Except as otherwise provided in Subsection 22-3-309(2)(a), a unitrust rate may be:
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(a)
a fixed unitrust rate; or
(b)
a unitrust rate that is determined for each period using:
(i)
a market index or other published data; or
(ii)
a mathematical blend of market indices or other published data over a stated number of preceding periods.
(2)
Except as otherwise provided in Subsection 22-3-309(2)(a), a unitrust policy may provide:
(a)
a limit on how high the unitrust rate determined under Subsection (1)(b) may rise;
(b)
a limit on how low the unitrust rate determined under Subsection (1)(b) may fall;
(c)
a limit on how much the unitrust rate determined under Subsection (1)(b) may increase over the unitrust rate for the preceding period or a mathematical blend of unitrust rates over a stated number of preceding periods;
(d)
a limit on how much the unitrust rate determined under Subsection (1)(b) 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
(e)
a mathematical blend of any of the unitrust rates determined under Subsection (1)(b) and Subsections (2)(a) through (d).