Section 28-77-309 - Special tax benefits - Other rules(a) A unitrust policy may:(1) provide methods and standards for:(A) determining the timing of distributions;(B) making distributions in cash or in kind or partly in cash and partly in kind; or(C) correcting an underpayment or overpayment to a beneficiary based on the unitrust amount if there is an error in calculating the unitrust amount;(2) specify sources and the order of sources, including categories of income for federal income tax purposes, from which distributions of a unitrust amount are paid; or(3) provide other standards and rules the fiduciary determines serve the interests of the beneficiaries.(b) If a trust qualifies for a special tax benefit or a fiduciary is not an independent person: (1) the unitrust rate established under § 28-77-306 may not be less than three percent or more than five percent;(2) the only provisions of § 28-77-307 which apply are § 28-77-307(a) and § 28-77-307(b)(1), § 28-77-307(b)(4), § 28-77-307(b)(5)(A), and § 28-77-307(b)(9);(3) the only period that may be used under § 28-77-308 is a calendar year under § 28-77-308(a)(1); and(4) the only other provisions of § 28-77-308 which apply are § 28-77-308(b)(2)(A) and § 28-77-308(b)(3).Added by Act 2021, No. 1088,§ 2, eff. 1/1/2022.