Indiana Code 30-2-15-7. “Unitrust rate”
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Terms Used In Indiana Code 30-2-15-7
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- unitrust amount: means an amount computed as a percentage of the fair market value of the trust as set forth in this chapter. See Indiana Code 30-2-15-6
Sec. 7. As used in this chapter, “unitrust rate” means the percentage of the fair market value of the trust that is determined under section 15 of this chapter and used to calculate the unitrust amount.
As added by P.L.3-2003, SEC.2.