§ 11-24-101. Short Title

This article shall be known and may be cited as the “Uniform Common Trust Fund Act”. Source: L. 47: p. 894, § 5. CSA: C. 18, § 177. CRS 53: § 14-10-5. C.R.S. 1963: § 14-18-5.

§ 11-24-102. Common Trust Funds Established and Operated

Any bank or trust company qualified to act as fiduciary in this state may establish and operate, alone or jointly with another bank or trust company qualified to act as fiduciary in this state, common trust funds for the purpose of furnishing investments to itself as fiduciary, to itself and others as cofiduciaries, to other […]

§ 11-24-103. Exclusive Management and Control

Any bank or trust company maintaining one or more common trust funds shall have the exclusive management and control of each common trust fund administered by it and the sole right at any time to sell, convert, exchange, transfer, or otherwise change or dispose of the assets comprising same. Notwithstanding any other provision of law, […]

§ 11-24-104. Court Accountings

Unless ordered by a court of competent jurisdiction, the bank or trust company operating such common trust funds is not required to render a court accounting with regard to such funds; but, by application to the district court, it may secure approval of such an accounting on such conditions as the court may establish. Source: […]

§ 11-24-105. Uniformity of Interpretation

This article shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. Source: L. 47: p. 893, § 3. CSA: C. 18, § 175. CRS 53: § 14-10-4. C.R.S. 1963: § 14-18-4.

§ 11-24-106. Existing Fiduciary Relationships

This article became effective January 1, 1948, and applies to fiduciary relationships then in existence or thereafter established. Source: L. 47: p. 894, § 8. CSA: C. 18, § 178. CRS 53: § 14-10-6. C.R.S. 1963: § 14-18-6.

§ 11-24-107. Fiduciary Defined

The word “fiduciary”, whenever used in this article, means a bank or trust company undertaking to act alone or jointly with others primarily for the benefit of another or others in all matters connected with its undertaking and includes personal representatives [including executors, administrators, administrators with the will annexed (cum testamento annexo), administrators in succession […]