Colorado § 11-109-908 Fiduciary accounts - duties of trust companies - rules

Colorado Statutes

§ 11-109-908 — Fiduciary accounts - duties of trust companies - rules

Colorado·Title 11 Financial·Art. Trust Companies

(1)Before accepting a fiduciary account, a trust company shall review the prospective account to determine whether the trust company can properly administer the account.

(2)Upon the acceptance of a fiduciary account for which a trust company has investment discretion, the trust company shall conduct a prompt review of all assets of the account to evaluate whether the assets are appropriate for the account.

(3)At least once during every calendar year, a trust company shall conduct a review of all assets of each fiduciary account for which the trust company has investment discretion to evaluate whether the assets are appropriate, individually and collectively, for the account.

(4)The board shall promulgate rules regarding what assets are appropriate for purposes of subsecti

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(1)
Before accepting a fiduciary account, a trust company shall review the prospective
account to determine whether the trust company can properly administer the
account.

(2) Upon the acceptance of a fiduciary account for which a trust company
has investment discretion, the trust company shall conduct a prompt review of all
assets of the account to evaluate whether the assets are appropriate for the
account.

(3) At least once during every calendar year, a trust company shall conduct a
review of all assets of each fiduciary account for which the trust company has
investment discretion to evaluate whether the assets are appropriate, individually
and collectively, for the account.

(4) The board shall promulgate rules regarding what assets are appropriate
for purposes of subsections (2) and (3) of this section.

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