Colorado § 11-24-102 Common trust funds established and operated

Colorado Statutes

§ 11-24-102 — Common trust funds established and operated

Colorado·Title 11 Financial·Art. Uniform Common Trust Fund Act

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 banks or trust companies as
fiduciaries, or to other banks or trust companies and others as cofiduciaries. Such
fiduciary or cofiduciary may invest funds which it lawfully holds for investment in
interests in such common trust funds, if such investment is not prohibited by the
instrument, judgment, decree, or order creating such fiduciary relationship, and if,
in the case of cofiduciaries, the bank or trust company procures the consent of its
cofiduciaries to

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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 banks or trust companies as
fiduciaries, or to other banks or trust companies and others as cofiduciaries. Such
fiduciary or cofiduciary may invest funds which it lawfully holds for investment in
interests in such common trust funds, if such investment is not prohibited by the
instrument, judgment, decree, or order creating such fiduciary relationship, and if,
in the case of cofiduciaries, the bank or trust company procures the consent of its
cofiduciaries to such investment. Any person acting as cofiduciary with any such
bank or trust company is hereby authorized to consent to the investment in such
interests. In determining whether the investment of funds received or held by a
bank or trust company as fiduciary in a common trust fund is proper, the bank or
trust company may consider the common fund as a whole and shall not be
prohibited from making such investment because of any particular asset.

Colorado § 11-24-102 (Common trust funds established and operated) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: L. 47: p. 893, � 1. CSA: C. 18, � 173. CRS 53: � 14-10-1. C.R.S. 1963: � 14-18-1. L. 77: Entire section amended, p. 563, � 1, effective June 9.