Section 55-15-9 - Administration of total return unitrust-Authority of trusteeIn administering a total return unitrust, the trustee may, in its sole discretion but subject to the provisions of the governing instrument, determine:
(1) The effective date of the conversion;(2) The timing of distributions during the year, if any, including provisions for prorating distributions for a short year when the effective date of a conversion takes place during the year;(3) Whether distributions are to be made in cash or in kind or partly in cash and partly in kind;(4) If the trust is reconverted to an income trust, the effective date of such reconversion; and(5) Such other administrative issues as may be necessary or appropriate to carry out the purposes of this chapter.SL 2002, ch 225, §9; SL 2023, ch 161, §14.Amended by S.L. 2023, ch. 161,s. 14, eff. 7/1/2023.