§ 64.2-1044 Unitrust rate
A. Except as otherwise provided in subdivision B 1 of § 64.2-1047, a unitrust rate may be:
2. A unitrust rate that is determined for each period using: a. A market index or other published data; or b. A mathematical blend of market indices or other published data over a stated number of preceding periods.
B. Except as otherwise provided in subdivision B 1 of § 64.2-1047, a unitrust policy may provide:
1. A limit on how high the unitrust rate determined under subdivision A 2 may rise;
2. A limit on how low the unitrust rate determined under subdivision A 2 may fall;
3. A limit on how much the unitrust rate determined under subdivision A 2 may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;
4. A limit on how much the unitrust rate determined under subdivision A 2 may decrease below the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods; or
5. A mathematical blend of any of the unitrust rates determined under subdivision A 2 and subdivisions B 1 through 4.
History
This law was first created in 2022. The record of its establishment is cataloged in chapter 354 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2022, c. 354.