C.R.S. § 15-1.2-301

In this part 3: (1) “Applicable value” means the amount of the net fair market value of a trust taken into account under section 15-1.2-307 . (2) “Express unitrust” means a trust for which, under the terms of the trust without regard to this part 3, income or net income must or may be calculated as a unitrust amount. (3) “Income trust” means a trust that is not a unitrust. (4) “Net fair market value of a trust” means the fair market value of the assets of the trust, less the noncontingent liabilities of the trust. (5) “Unitrust” means a trust for which net income is a unitrust amount. The term includes an express unitrust. (6) “Unitrust amount” means an amount computed by multiplying a determined value of a trust by a determined percentage. For a unitrust administered under a unitrust policy, the term means the applicable value, multiplied by the unitrust rate. (7) “Unitrust policy” means a policy described in sections 15-1.2-305 through 15-1.2-309 and adopted under section 15-1.2-303 . (8) “Unitrust rate” means the rate used to compute the unitrust amount under subsection (6) of this section for a unitrust administered under a unitrust policy.