§ 11-106-106 — Investment in securities

Colorado § 11-106-106

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Fiduciary Business

Text

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 federal
Investment Company Act of 1940, 15 U.S.C. sec. 80a-1 et seq., as amended. A
Colorado bank or trust company shall be allowed to make such investment even if it
exercises investment discretion as a fiduciary, custodian, managing agent, or
otherwise with respect to the investment and reinvestment of assets that it
maintains in its trust department. The fact that a Colorado bank or trust company,
or any affiliate thereof, is providing services to the investment company or trust as
investment advisor, sponsor, distributor, custodian, transfer agent, registrar, or
otherwise, and receiving reasonable remuneration for the services, does not
preclude such bank or trust company from investing in the securities of such
investment company or trust.

Legislative History

Source: L. 2003: Entire article added with relocations, p. 1135, � 3, effective July 1.