58-9a-306. Same; unitrust rate. (a) Except as otherwise provided in K.S.A. 2021 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust rate may be:

(1) A fixed unitrust rate; or

(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 K.S.A. 2021 Supp. 58-9a-309(b)(1), and amendments thereto, a unitrust policy may provide:

(1) A limit on how high the unitrust rate determined under subsection (a)(2) may rise;

(2) a limit on how low the unitrust rate determined under subsection (a)(2) may fall;

(3) a limit on how much the unitrust rate determined under subsection (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 subsection (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 subsection (a)(2) and paragraphs (1) through (4).

History: L. 2021, ch. 63, § 13; July 1.