Colorado Statutes
§ 11-109-906 — Funds awaiting investment or distribution
Funds held by a
trust company in a fiduciary capacity that are awaiting investment or distribution
shall not be held uninvested or undistributed any longer than is reasonable for the
proper management of the account. Funds held in trust by a trust company
awaiting investment or distribution may, unless prohibited by the instrument
creating the trust, be deposited in an account with the trust company as provided in
section 11-109-201 (1)(d).
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Legislative History
Source: L. 2003: Entire article added with relocations, p. 1205, � 3, effective
July 1.
Nearby Sections
15
§ 11-10.5-101
Short title§ 11-10.5-102
Legislative declaration§ 11-10.5-103
Definitions§ 11-10.5-104
Applicability of article§ 11-10.5-105
Authority of banking board§ 11-10.5-107
Eligible collateral - uninsured public deposits§ 11-10.5-109
Verification of collateral held - reports required§ 11-10.5-110
Procedures when event of default occurs§ 11-10.5-112
Annual fees and assessments§ 11-101-101
Short title§ 11-101-102
Declaration of policy§ 11-101-201
Effect on existing banks§ 11-101-301
Application of code§ 11-101-302
No private right of action