{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/64.2-1043.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/64.2-1043.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/64.2-1043.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/64.2-1043.html"}],"law_id":76075,"edition_id":1,"section_id":76075,"structure_id":15312,"section_number":"64.2-1043","catch_line":"Unitrust policy","history":"2022, c. 354.","full_text":"A\n\nIn administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or amended or replaced under subdivision A 2 of § 64.2-1041.B\n\nA unitrust policy shall provide:1\n\nThe unitrust rate or the method for determining the unitrust rate under § 64.2-1044;2\n\nThe method for determining the applicable value under § 64.2-1045; and3\n\nThe rules described in §§ 64.2-1044 through 64.2-1047 that apply in the administration of the unitrust, whether the rules are:\n\t\t\t\ta. Mandatory, as provided in subsection A of § 64.2-1045 and subsection A of § 64.2-1046; or\n\t\t\t\tb. Optional, as provided in § 64.2-1044, subsection B of § 64.2-1045, subsection B of § 64.2-1046, and subsection A of § 64.2-1047, to the extent the fiduciary elects to adopt those rules.","order_by":null,"text":{"0":{"id":273024,"text":"In administering a unitrust under this article, a fiduciary shall follow a unitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or amended or replaced under subdivision A 2 of § 64.2-1041.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":273025,"text":"A unitrust policy shall provide:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":273026,"text":"The unitrust rate or the method for determining the unitrust rate under § 64.2-1044;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":273027,"text":"The method for determining the applicable value under § 64.2-1045; and","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":273028,"text":"The rules described in §§ 64.2-1044 through 64.2-1047 that apply in the administration of the unitrust, whether the rules are:\n\t\t\t\ta. Mandatory, as provided in subsection A of § 64.2-1045 and subsection A of § 64.2-1046; or\n\t\t\t\tb. Optional, as provided in § 64.2-1044, subsection B of § 64.2-1045, subsection B of § 64.2-1046, and subsection A of § 64.2-1047, to the extent the fiduciary elects to adopt those rules.","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2"}},"ancestry":[{"id":15312,"edition_id":1,"name":"Unitrust","identifier":"3","label":"article","depth":4,"order_by":1,"parent_id":13478,"metadata":{},"date_created":"2026-06-26 03:53:52","date_modified":"2026-06-26 03:53:52","permalink":{"id":273907,"object_type":"structure","relational_id":15312,"identifier":"3","token":"64.2\/III\/10.1\/3","url":"\/64.2\/III\/10.1\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13478,"edition_id":1,"name":"Uniform Fiduciary Income And Principal Act","identifier":"10.1","label":"chapter","depth":3,"order_by":1,"parent_id":12724,"metadata":{},"date_created":"2026-06-26 03:44:58","date_modified":"2026-06-26 03:44:58","permalink":{"id":273863,"object_type":"structure","relational_id":13478,"identifier":"10.1","token":"64.2\/III\/10.1","url":"\/64.2\/III\/10.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12724,"edition_id":1,"name":"Trusts","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12723,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":273811,"object_type":"structure","relational_id":12724,"identifier":"III","token":"64.2\/III","url":"\/64.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12723,"edition_id":1,"name":"Wills, Trusts, and Fiduciaries","identifier":"64.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:50","date_modified":"2026-06-26 03:43:50","permalink":{"id":272781,"object_type":"structure","relational_id":12723,"identifier":"64.2","token":"64.2","url":"\/64.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":58297,"structure_id":15312,"section_number":"64.2-1039","catch_line":"Definitions","url":"\/64.2-1039\/","token":"64.2\/III\/10.1\/3\/64.2-1039","metadata":false},{"id":63403,"structure_id":15312,"section_number":"64.2-1040","catch_line":"Application; duties and remedies","url":"\/64.2-1040\/","token":"64.2\/III\/10.1\/3\/64.2-1040","metadata":false},{"id":74484,"structure_id":15312,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","url":"\/64.2-1041\/","token":"64.2\/III\/10.1\/3\/64.2-1041","metadata":false},{"id":72707,"structure_id":15312,"section_number":"64.2-1042","catch_line":"Notice","url":"\/64.2-1042\/","token":"64.2\/III\/10.1\/3\/64.2-1042","metadata":false},{"id":76075,"structure_id":15312,"section_number":"64.2-1043","catch_line":"Unitrust policy","url":"\/64.2-1043\/","token":"64.2\/III\/10.1\/3\/64.2-1043","metadata":false},{"id":67457,"structure_id":15312,"section_number":"64.2-1044","catch_line":"Unitrust rate","url":"\/64.2-1044\/","token":"64.2\/III\/10.1\/3\/64.2-1044","metadata":false},{"id":72430,"structure_id":15312,"section_number":"64.2-1045","catch_line":"Applicable value","url":"\/64.2-1045\/","token":"64.2\/III\/10.1\/3\/64.2-1045","metadata":false},{"id":66259,"structure_id":15312,"section_number":"64.2-1046","catch_line":"Period","url":"\/64.2-1046\/","token":"64.2\/III\/10.1\/3\/64.2-1046","metadata":false},{"id":81750,"structure_id":15312,"section_number":"64.2-1047","catch_line":"Special tax benefits; other rules","url":"\/64.2-1047\/","token":"64.2\/III\/10.1\/3\/64.2-1047","metadata":false}],"previous_section":{"id":72707,"structure_id":15312,"section_number":"64.2-1042","catch_line":"Notice","url":"\/64.2-1042\/","token":"64.2\/III\/10.1\/3\/64.2-1042","metadata":false},"next_section":{"id":67457,"structure_id":15312,"section_number":"64.2-1044","catch_line":"Unitrust rate","url":"\/64.2-1044\/","token":"64.2\/III\/10.1\/3\/64.2-1044","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/64.2-1043\/","history_text":"

This law was first created in 2022. The record of its establishment is cataloged in chapter 354<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":58297,"section_number":"64.2-1039","catch_line":"Definitions","order_by":null,"url":"\/64.2-1039\/"}],"refers_to":[{"id":74484,"section_number":"64.2-1041","catch_line":"Authority of fiduciary","order_by":null,"url":"\/64.2-1041\/"},{"id":67457,"section_number":"64.2-1044","catch_line":"Unitrust rate","order_by":null,"url":"\/64.2-1044\/"},{"id":72430,"section_number":"64.2-1045","catch_line":"Applicable value","order_by":null,"url":"\/64.2-1045\/"},{"id":66259,"section_number":"64.2-1046","catch_line":"Period","order_by":null,"url":"\/64.2-1046\/"},{"id":81750,"section_number":"64.2-1047","catch_line":"Special tax benefits; other rules","order_by":null,"url":"\/64.2-1047\/"}],"permalink":{"id":273925,"object_type":"law","relational_id":76075,"identifier":"64.2-1043","token":"64.2\/III\/10.1\/3\/64.2-1043","url":"\/64.2-1043\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/64.2-1043\/","token":"64.2\/III\/10.1\/3\/64.2-1043","dublin_core":{"Title":"Unitrust policy","Type":"Text","Format":"text\/html","Identifier":"\u00a7 64.2-1043","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> In administering a unitrust under this article, a fiduciary<\/span> shall follow a unitrust policy<\/span> adopted under subdivision A 1 or 2 of § 64.2-1041<\/a> or amended or replaced under subdivision A 2 of § 64.2-1041<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A unitrust policy<\/span> shall provide: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The unitrust rate<\/span> or the method for determining the unitrust rate<\/span> under § 64.2-1044<\/a>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> The method for determining the applicable value<\/span> under § 64.2-1045<\/a>; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> The rules described in §§ 64.2-1044<\/a> through 64.2-1047<\/a> that apply in the administration of the unitrust, whether the rules are:\n\t\t\t\ta. Mandatory, as provided in subsection A of § 64.2-1045<\/a> and subsection A of § 64.2-1046<\/a>; or\n\t\t\t\tb. Optional, as provided in § 64.2-1044<\/a>, subsection B of § 64.2-1045<\/a>, subsection B of § 64.2-1046<\/a>, and subsection A of § 64.2-1047<\/a>, to the extent the fiduciary<\/span> elects to adopt those rules. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nUNITRUST POLICY (\u00a7 64.2-1043)\n\nA. In administering a unitrust under this article, a fiduciary shall follow a\nunitrust policy adopted under subdivision A 1 or 2 of § 64.2-1041 or\namended or replaced under subdivision A 2 of § 64.2-1041.\n\nB. A unitrust policy shall provide:\n\n 1. The unitrust rate or the method for determining the unitrust rate under\n § 64.2-1044;\n\n 2. The method for determining the applicable value under § 64.2-1045; and\n\n 3. The rules described in §§ 64.2-1044 through 64.2-1047 that apply\n in the administration of the unitrust, whether the rules are:\n \t\t\t\ta. Mandatory, as provided in subsection A of § 64.2-1045 and\n subsection A of § 64.2-1046; or\n \t\t\t\tb. Optional, as provided in § 64.2-1044, subsection B of §\n 64.2-1045, subsection B of § 64.2-1046, and subsection A of §\n 64.2-1047, to the extent the fiduciary elects to adopt those rules.\n\nHISTORY: 2022, c. 354.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}