It shall be unlawful for a state bank to act as fiduciary, other than as escrow agent, unless it is authorized by its charter or amendments thereto to exercise trust powers. Source: L. 2003: Entire article added with relocations, p. 1133, § 3, effective July 1. Editor’s note: This section is similar to former § […]
A bank acting as fiduciary shall have the same investment powers as an individual fiduciary under like circumstances. Source: L. 2003: Entire article added with relocations, p. 1133, § 3, effective July 1. Editor’s note: This section is similar to former § 11-10-102 as it existed prior to 2003.
Unless otherwise expressly provided by statute, a bank acting as a fiduciary shall have all of the rights, powers, privileges, and immunities and be subject to the same obligations and duties as an individual fiduciary under like circumstances. Source: L. 2003: Entire article added with relocations, p. 1133, § 3, effective July 1. Editor’s note: […]
In addition to its other powers, any bank that is authorized to exercise fiduciary powers shall, upon proper qualification under this code, have the power to act as a fiduciary in any capacity. It may also act as registrar, transfer agent, or attorney-in-fact and have the power to receive, manage, and apply sinking funds. Source: […]
In addition to the procedures initiated by an interested party concerning internal affairs of the party’s trust pursuant to part 2 of article 5 of title 15, or procedures otherwise permitted by Colorado law, and unless a will, agreement, or trust instrument otherwise provides, a company may be substituted as fiduciary for all or a […]
Notwithstanding any other law to the contrary and subject to the standard contained in sections 11-50-113 (2) and 15-1-304, C.R.S., a Colorado bank or trust company may invest and reinvest the assets that it maintains in its trust in the securities of any open-end or closed-end management investment company or investment trust registered under the […]
A bank’s duties regarding the holding of uninvested or undistributed funds that are awaiting investment or distribution are governed by the “Colorado Uniform Prudent Investor Act”, article 1.1 of title 15, C.R.S., the “Uniform Prudent Management of Institutional Funds Act”, part 11 of article 1 of title 15, C.R.S., and applicable standards and requirements imposed […]
