As used in this article, unless the context requires a different meaning: “Applicable value” means the amount of the net fair market value of a trust taken into account under § 64.2-1045. “Express unitrust” means a trust for which, under the terms of the trust without regard to this article, income or net income must or may be calculated as a unitrust amount. “Income trust” means a trust that is not a unitrust. “Net fair market value of a trust” means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust. “Unitrust” means a trust for which net income is a unitrust amount. “Unitrust” includes an express unitrust. “Unitrust amount” means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, “unitrust amount” means the applicable value, multiplied by the unitrust rate. “Unitrust policy” means a policy described in §§ 64.2-1043 through 64.2-1047 and adopted under § 64.2-1041. “Unitrust rate” means the rate used to compute the unitrust amount for a unitrust administered under a unitrust policy.