reglab/statecodes huggingface dataset:
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-702 - Trustee's bond

(1)
A trustee shall give bond to secure performance of the trustee's duties only if the court finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust and the court has not dispensed with the requirement.
(2)
The court may specify the amount of a bond, its liabilities, and whether sureties are necessary. The court may modify or terminate a bond at any time.
(3)
Unless otherwise directed by the court or the terms of the trust, the cost of a bond is charged to the trust.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1168, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-703 - Cotrustees

(1)
Cotrustees who are unable to reach a unanimous decision may act by majority decision.
(2)
If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.
(3)
Subject to section
15-16-812
, a cotrustee shall participate in the performance of a trustee's function unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.
(4)
If a cotrustee is unavailable to perform duties because of absence, illness, disqualification, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or a majority of the remaining cotrustees may act for the trust.
(5)
A trustee may not delegate to a costrustee the performance of a function the settlor reasonably expected the trustees to perform jointly. Unless a delegation was irrevocable, a trustee may revoke a delegation previously made.
(6)
Except as otherwise provided in subsection (7) of this section, a trustee who does not join in an action of another trustee is not liable for the action.
(7)
Subject to section
15-16-812
, each trustee shall exercise reasonable care to:
(a)
Prevent a cotrustee from committing a serious breach of trust; and
(b)
Pursue a remedy, at trust expense, for a cotrustee's serious breach of trust.
(8)
A dissenting trustee who joins in an action at the direction of the majority of the trustees and who notified any cotrustee of the dissent at or before the time of the action is not liable for the action unless the action is a serious breach of trust.
Amended by 2019 Ch. 51, § 8, eff. 8/2/2019.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1169, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-704 - Vacancy in trusteeship - appointment of successor

(1)
A vacancy in a trusteeship occurs if:
(a)
A person designated as trustee rejects the trusteeship;
(b)
A person designated as trustee cannot be identified or does not exist;
(c)
A trustee resigns;
(d)
A trustee is disqualified or removed;
(e)
A trustee dies; or
(f)
A guardian or conservator is appointed for an individual serving as trustee.
(2)
If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled. A vacancy in a trusteeship must be filled if the trust has no remaining trustee.
(3)
A vacancy in a trusteeship of a noncharitable trust that is required to be filled must be filled in the following order of priority:
(a)
By a person designated in the terms of the trust to act as successor trustee;
(b)
By a person appointed by unanimous agreement of the qualified beneficiaries; or
(c)
By a person appointed by the court.
(4)
A vacancy in a trusteeship of a charitable trust that is required to be filled must be filled in the following order of priority:
(a)
By a person designated in the terms of the trust to act as successor trustee;
(b)
By a person selected by the charitable organizations expressly designated to receive distributions under the terms of the trust if the attorney general is provided written notice of the selection and fails to object or concurs in the selection within thirty days of such notice; or
(c)
By a person appointed by the court.
(5)
Regardless of whether a vacancy in a trusteeship exists or is required to be filled, the court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1169, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-705 - Resignation of trustee

(1)
A trustee may resign:
(a)
Upon at least thirty days' notice to the qualified beneficiaries; the settlor, if living; and all cotrustees; or
(b)
With the approval of the court.
(2)
In approving a resignation pursuant to this section, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.
(3)
Any liability of a resigning trustee or of any sureties on the trustee's bond for acts or omissions of the trustee is not discharged or affected by the trustee's resignation.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1170, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-706 - Removal of trustee

(1)
The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on its own initiative.
(2)
The court may remove a trustee if:
(a)
The trustee has committed a serious breach of trust;
(b)
Lack of cooperation among cotrustees substantially impairs the administration of the trust;
(c)
Because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or
(d)
(I)
There has been a substantial change of circumstances or removal is requested by all of the qualified beneficiaries;
(II)
The court finds that removal of the trustee best serves the interests of all of the beneficiaries and is not inconsistent with a material purpose of the trust; and
(III)
A suitable cotrustee or successor trustee is available.
(3)
Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order such appropriate relief pursuant to section
15-5-1001 (2)
as may be necessary to protect the trust property or the interests of the beneficiaries.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1171, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-707 - Delivery of property by former trustee

(1)
Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to it, a trustee who has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.
(2)
A trustee who has resigned or been removed shall proceed expeditiously to deliver the trust property within the trustee's possession to the cotrustee, successor trustee, or other person entitled to it.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1171, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-708 - Compensation of trustee

(1)
If the terms of the trust do not specify the trustee's compensation, a trustee's compensation is determined in accordance with part 6 of article
10
of this title 15.
(2)
If the terms of a trust specify the trustee's compensation, the trustee is entitled to be compensated as specified, but the court may allow more or less compensation if the compensation specified by the terms of the trust would be unreasonably low or high as determined in accordance with the factors set forth in part 6 of article
10
of this title 15 and taking into consideration whether the duties of the trustee are substantially different from those contemplated when the trust was created.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1171, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 7 - OFFICE OF TRUSTEE (§§ 15-5-701 — 15-5-709) › Section 15-5-709 - Reimbursement of expenses

(1)
A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:
(a)
Expenses that were properly incurred in the administration of the trust; and
(b)
To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.
(2)
A reasonable advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1172, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-801 - Duty to administer trust

Upon acceptance of a trusteeship, the trustee shall administer the trust in good faith, in accordance with its terms and purposes and the interests of the beneficiaries, and in accordance with this article 5.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1172, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-803 - Impartiality

If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, taking into account any differing interests of the beneficiaries.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-804 - Prudent administration

A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distribution requirements, and other circumstances of the trust. In satisfying this standard, the trustee shall exercise reasonable care, skill, and caution.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-805 - Costs of administration

In administering a trust, the trustee may incur only costs that are appropriate and reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-806 - Trustee's skills

A trustee who has special skills or expertise, or is named trustee in reliance upon the trustee's representation that the trustee has special skills or expertise, has a duty to use those special skills or expertise.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-807 - Delegation by trustee

(1)
A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances. The trustee shall exercise reasonable care, skill, and caution in:
(a)
Selecting an agent;
(b)
Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and
(c)
Periodically reviewing the agent's actions in order to monitor the agent's performance and compliance with the terms of the delegation.
(2)
In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.
(3)
A trustee who complies with subsection (1) of this section is not liable to the beneficiaries or to the trust for the decisions or actions of the agent to whom the function was delegated.
(4)
By accepting a delegation of powers or duties from the trustee of a trust that is subject to the law of this state, an agent submits to the jurisdiction of the courts of this state.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1174, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-808 - Powers to direct

(Reserved)
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-809 - Control and protection of trust property

A trustee shall take reasonable steps to take control of and protect the trust property.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1175, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-810 - Record keeping and identification of trust property

(1)
A trustee shall keep adequate records of the administration of the trust.
(2)
A trustee shall keep trust property separate from the trustee's own property.
(3)
(a)
Except as otherwise provided in subsection (4) of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.
(b)
Nothing in subsection (3)(a) of this section may be construed as preventing a trustee from holding a property in the name of a nominee or other form, without disclosure of the trust, as authorized in section
15-5-816 (1)(g)(II)
and in section
15-1-804 (2)(o)
, provided the trustee maintains adequate records of all trust property so held.
(c)
This subsection (3) does not apply to tangible personal property other than motor vehicles, airplanes, and other property the title of which is registered with a governmental authority.
(4)
If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1175, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-811 - Enforcement and defense of claims

A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust of which the trustee has knowledge.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1175, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-812 - Collecting trust property

A trustee shall take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee and to redress a breach of trust known to the trustee to have been committed by a former trustee.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1176, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-814 - Discretionary powers - tax savings

(1)
(a)
Notwithstanding the breadth of discretion granted to a trustee in the terms of the trust, including the use of such terms as "absolute", "sole", or "uncontrolled", the trustee shall exercise a discretionary power in good faith. The parameters for that exercise are established by the terms and purposes of the trust, the interests of the beneficiaries, and relevant fiduciary duties. A trustee does not abuse its discretion if the trustee, following the terms and purposes of the trust and considering the interests of its beneficiaries, exercises its judgment honestly and with a proper motive.
(b)
Where a trust gives a trustee unlimited discretion, including the use of such terms as "absolute", "sole", or "uncontrolled", a court may not determine that a trustee abused its discretion merely because the court would have exercised the discretion in a different manner or would not have exercised the discretion.
(2)
Subject to subsection (4) of this section, and unless the terms of the trust expressly indicate that a rule in this subsection (2) does not apply:
(a)
A person other than a settlor who is a beneficiary and trustee of a trust that confers on the trustee a power to make discretionary distributions to or for the trustee's personal benefit may exercise the power only in accordance with an ascertainable standard; and
(b)
A trustee may not exercise a power to make discretionary distributions to satisfy a legal obligation of support that the trustee personally owes another person.
(3)
A power whose exercise is limited or prohibited by subsection (2) of this section may be exercised by a majority of the remaining trustees whose exercise of the power is not so limited or prohibited. If the power of all trustees is so limited or prohibited, the court may appoint a special fiduciary with authority to exercise the power.
(4)
Subsection (2) of this section does not apply to:
(a)
A power held by the settlor's spouse who is the trustee of a trust for which a marital deduction, as defined in section 2056 (b)(5) or 2523 (e) of the federal "Internal Revenue Code of 1986", as amended, was previously allowed;
(b)
Any trust during any period that the trust may be revoked or amended by its settlor; or
(c)
A trust, if contributions to the trust qualify for the annual exclusion under section 2503 (c) of the federal "Internal Revenue Code of 1986", as amended.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1177, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-815 - General powers of trustee

(1)
A trustee, without authorization by the court, may exercise:
(a)
Powers conferred by the terms of the trust; and
(b)
Except as limited by the terms of the trust:
(I)
All powers over the trust property that an unmarried competent owner has over individually owned property;
(II)
Any other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and
(III)
Any other powers conferred by this code and the "Colorado Fiduciaries' Powers Act", part 8 of article
1
of this title 15.
(2)
The exercise of a power is subject to the fiduciary duties prescribed by this code.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1178, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 8 - DUTIES AND POWERS OF TRUSTEE (§§ 15-5-801 — 15-5-818) › Section 15-5-817 - Distribution on termination

(1)
Upon termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution. The right of any beneficiary to object to the proposed distribution terminates if the beneficiary does not notify the trustee of an objection within thirty days after the proposal was sent, but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.
(2)
Upon the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to it, subject to the right of the trustee to retain a reasonable reserve for the payments of debts, expenses, and taxes.
(3)
A release by a beneficiary of a trustee from liability for breach of trust is invalid to the extent:
(a)
It was induced by improper conduct of the trustee; or
(b)
The beneficiary, at the time of the release, did not know of the beneficiary's rights or of the material facts relating to the breach.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1181, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1001 - Remedies for breach of trust

(1)
A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.
(2)
To remedy a breach of trust that has occurred or may occur, the court may:
(a)
Compel the trustee to perform the trustee's duties;
(b)
Enjoin the trustee from committing a breach of trust;
(c)
Compel the trustee to redress a breach of trust by paying money, restoring property, being surcharged or sanctioned, or other means;
(d)
Order a trustee to account, provide a status or financial report, or provide an inventory;
(e)
Appoint a special fiduciary to take possession of the trust property and administer the trust;
(f)
Restrain, restrict, or suspend the trustee;
(g)
Remove the trustee as provided in section
15-5-706
;
(h)
Reduce or deny compensation to the trustee or require the trustee to disgorge compensation previously paid;
(i)
Subject to section
15-5-1012
, void an act of the trustee, impose a lien or constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or its proceeds; or
(j)
Order other appropriate relief.
(3)
If a remedy for a breach of trust is sought by a cotrustee, beneficiary, or interested person, or the court acts sua sponte, the provisions of part 5 of article
10
of this title 15 apply.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1183, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1002 - Damages for breach of trust

(1)
In addition to other remedies provided by this article 5, a trustee who commits a breach of trust is liable to the beneficiaries affected for the greater of:
(a)
The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or
(b)
The profit the trustee made, or the benefit the trustee received, other than reasonable compensation, by reason of the breach.
(2)
Except as otherwise provided in this subsection (2), if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees. A trustee is not entitled to contribution if the trustee was substantially more at fault than another trustee or if the trustee committed the breach of trust in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries. A trustee who received a benefit from the breach of trust is not entitled to contribution from another trustee to the extent of the benefit received.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1003 - Damages in absence of breach

(1)
A trustee is accountable to an affected beneficiary for any profit made by the trustee arising from the administration of the trust, even absent a breach of trust.
(2)
Absent a breach of trust, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1004 - Compensation and costs

Except as otherwise provided in this article 5, the provisions of part 6 of article
10
of this title 15 govern the entitlement to and payment of compensation and costs to trustees, their attorneys, and third parties involved with trusts.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1184, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1005 - Limitation of actions against trustee

(1)
A beneficiary may not commence a proceeding against a trustee for breach of trust more than one year after the date that the beneficiary or a person who may represent and bind the beneficiary, as provided in part 3 of this article 5, was sent a report that adequately disclosed the existence of a potential claim for breach of trust and informed the beneficiary of the time allowed for commencing a proceeding.
(2)
A report adequately discloses the existence of a potential claim for breach of trust if it provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into its existence.
(3)
If subsection (1) of this section does not apply, a judicial proceeding by a beneficiary against a trustee for breach of trust must be commenced within three years after the first to occur of:
(a)
The removal or resignation of the trustee;
(b)
The termination of the beneficiary's interest in the trust; or
(c)
The termination of the trust.
(4)
For purposes of subsection (1) of this section, a beneficiary is deemed to have been sent a report if:
(a)
In the case of a beneficiary having capacity, it is sent to the beneficiary; or
(b)
In the case of a beneficiary who, pursuant to part 3 of this article 5, may be represented and bound by another person, it is sent to the other person.
(5)
This section does not preclude an action to recover for fraud or misrepresentation related to the report.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1006 - Reliance on trust instrument

A trustee who acts in reasonable reliance on the terms of the trust is not liable to a beneficiary for a breach of trust to the extent the breach resulted from the reliance.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1007 - Event affecting administration or distribution

If the happening of an event, including marriage, divorce, performance of educational requirements, or death, affects the administration or distribution of a trust, a trustee who has exercised reasonable care to ascertain the happening of the event is not liable for a loss resulting from the trustee's lack of knowledge.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1008 - Exculpation of trustee

(1)
A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that it:
(a)
Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries; or
(b)
Was inserted as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor.
(2)
An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that its existence and contents were adequately communicated to the settlor.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1185, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1009 - Beneficiary's consent, release, or ratification

(1)
A trustee is not liable to a beneficiary for breach of trust if the beneficiary consented to the conduct constituting the breach, released the trustee from liability for the breach, or ratified the transaction constituting the breach, unless:
(a)
The consent, release, or ratification of the beneficiary was induced by improper conduct of the trustee; or
(b)
At the time of the consent, release, or ratification, the beneficiary did not know of the beneficiary's rights or of the material facts relating to the breach.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1186, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1010 - Limitation on personal liability of trustee

(1)
Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into in the trustee's fiduciary capacity in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.
(2)
A trustee is personally liable for torts committed in the course of administering a trust, or for obligations arising from ownership or control of trust property, including liability for violation of environmental law, only if the trustee is personally at fault.
(3)
A claim based on a contract entered into by a trustee in the trustee's fiduciary capacity, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the trustee's fiduciary capacity, whether or not the trustee is personally liable for the claim.
(4)
The question of liability as between the trust estate and the trustee individually may be determined:
(a)
In a proceeding pursuant to section
15-10-504
;
(b)
In a proceeding for accounting, surcharge, indemnification, sanctions, or removal; or
(c)
In other appropriate proceedings.
(5)
A trustee is not personally liable for making a distribution of property that does not take into consideration the possible birth of a posthumously conceived child unless, prior to the distribution, the trustee received notice or acquired actual knowledge that:
(a)
There is or may be an intention to use an individual's genetic material to create a child; and
(b)
The birth of the child could affect the distribution of the trust assets.
(6)
If a trustee has reviewed the records of the county clerk and recorder in every county in Colorado in which the trustee has actual knowledge that the decedent was domiciled at any time during the three years prior to the decedent's death and the trustee does not have actual notice or actual knowledge of the existence of a valid, unrevoked designated beneficiary agreement in which the decedent granted the right of intestate succession, the trustee is not individually liable for distributions made to devisees or heirs at law that do not take into consideration the designated beneficiary agreement.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1186, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1011 - Interest as a general partner

(1)
Except as provided in subsection (3) of this section, or unless personal liability is imposed in the contract, a trustee who holds an interest as a general partner in a general or limited partnership is not personally liable on a contract entered into by the partnership after the trust's acquisition of the interest if the fiduciary capacity was disclosed in the contract or in a statement previously filed pursuant to the "Colorado Uniform Partnership Act (1997)", article
64
of title
7
, or the "Colorado Uniform Limited Partnership Act of 1981", article
62
of title
7
.
(2)
Except as otherwise provided in subsection (3) of this section, a trustee who holds an interest as a general partner is not personally liable for torts committed by the partnership or for obligations arising from ownership or control of the interest unless the trustee is personally at fault.
(3)
The immunity provided by this section does not apply if an interest in the partnership is held by the trustee in a capacity other than that of trustee or is held by the trustee's spouse or one or more of the trustee's descendants, siblings, or parents, or the spouse of any of them.
(4)
If the trustee of a revocable trust holds an interest as a general partner, the settlor is personally liable for contracts and other obligations of the partnership as if the settlor were a general partner.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1187, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1012 - Protection of person dealing with trustee

(1)
A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee's powers, is protected from liability as if the trustee were properly exercising the power.
(2)
A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise and, in the absence of contrary knowledge, may assume the existence and proper use of the power being exercised.
(3)
A person who in good faith delivers assets to a trustee need not ensure their proper application.
(4)
A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.
(5)
Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1188, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 10 - LIABILITY OF TRUSTEES AND RIGHTS OF PERSONS DEALING WITH TRUSTEES (§§ 15-5-1001 — 15-5-1013) › Section 15-5-1013 - Certification of trust

(1)
Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information:
(a)
That the trust exists and the date the trust instrument was executed;
(b)
The identity of the settlor;
(c)
The identity and address of the currently acting trustee;
(d)
The powers of the trustee in the pending transaction;
(e)
The revocability or irrevocability of the trust and the identity of any person holding a power to revoke the trust;
(f)
The authority of cotrustees to sign or otherwise authenticate and whether all or less than all are required in order to exercise powers of the trustee; and
(g)
The name in which title to trust property may be taken.
(2)
A certification of trust may be signed or otherwise authenticated by any trustee.
(3)
A certification of trust must state that the trust has not been revoked, modified, or amended in any manner that would cause the representations contained in the certification of trust to be incorrect.
(4)
A certification of trust need not contain the dispositive terms of a trust.
(5)
A recipient of a certification of trust may require the trustee to furnish copies of those excerpts from the original trust instrument and later amendments that designate the trustee and confer upon the trustee the power to act in the pending transaction.
(6)
A person who acts in reliance upon a certification of trust without knowledge that the representations contained therein are incorrect is not liable to any person for so acting and may assume without inquiry the existence of the facts contained in the certification. Knowledge of the terms of the trust may not be inferred solely from the fact that a copy of all or part of the trust instrument is held by the person relying upon the certification.
(7)
A person who in good faith enters into a transaction in reliance upon a certification of trust may enforce the transaction against the trust property as if the representations contained in the certification were correct.
(8)
A person making a demand for the trust instrument in addition to a certification of trust or excerpts is liable for costs, expenses, attorney fees, and damages if the court determines that the person did not act in good faith in demanding the trust instrument.
(9)
This section does not limit the right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1188, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 14 - MISCELLANEOUS PROVISIONS (§§ 15-5-1401 — 15-5-1404) › Section 15-5-1401 - Uniformity of application and construction

In applying and construing the language of this article 5 that is consistent with uniform law, consideration must be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1191, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 14 - MISCELLANEOUS PROVISIONS (§§ 15-5-1401 — 15-5-1404) › Section 15-5-1402 - Electronic records and signatures

The provisions of this article 5 governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of such records or signatures, conform to the requirements of section 102 of the federal "Electronic Signatures in Global and National Commerce Act",
15 U.S.C. sec. 7002
, and supersede, modify, and limit the requirements of the federal "Electronic Signatures in Global and National Commerce Act",
15 U.S.C. sec. 7001
et seq.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1191, § 1, effective 1/1/2019.
2023 Colorado Revised Statutes › Title 15 - PROBATE, TRUSTS, AND FIDUCIARIES (§§ 15-1-101 — 15-24-403) › COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Article 5 - COLORADO UNIFORM TRUST CODE (§§ 15-5-101 — 15-5-1404) › Part 14 - MISCELLANEOUS PROVISIONS (§§ 15-5-1401 — 15-5-1404) › Section 15-5-1403 - Severability clause

If any provision of this article 5 or its application to any person or circumstances is held invalid, the invalidity does not affect other provisions of applications of this article 5 that can be given effect without the invalid provision or application, and to this end the provisions of this article 5 are severable.
Added by 2018 Ch. 169, § 1, eff. 1/1/2019.
L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1191, § 1, effective 1/1/2019.