C.R.S. § 15-1.2-305

(1) In administering a unitrust under this part 3, a fiduciary shall follow a unitrust policy adopted under section 15-1.2-303 (1)(a) or (1)(b) or amended or replaced under section 15-1.2-303 (1)(b). (2) A unitrust policy must provide: (a) The unitrust rate or the method for determining the unitrust rate under section 15-1.2-306 ; (b) The method for determining the applicable value under section 15-1.2-306 ; and (c) The rules described in sections 15-1.2-306 through 15-1.2-309 which apply in the administration of the unitrust, whether the rules are: (I) Mandatory, as provided in sections 15-1.2-307 (1) and 15-1.2-416 ; or (II) Optional, as provided in sections 15-1.2-306 , 15-1.2-307 (2), 15-1.2-308 (2), and 15-1.2-309 (1), to the extent the fiduciary elects to adopt those rules.