§ 11-24-107 — Fiduciary defined

Colorado § 11-24-107

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Uniform Common Trust Fund Act

Text

The word fiduciary, whenever used in this
article, means a bank or trust company undertaking to act alone or jointly with
others primarily for the benefit of another or others in all matters connected with its
undertaking and includes personal representatives [including executors,
administrators, administrators with the will annexed (cum testamento annexo),
administrators in succession acting under a will (de bonis non), ancillary
administrators acting under a will, and ancillary executors], special administrators,
guardians, conservators, trustees, whether of express or implied trusts, custodians
under the Colorado Uniform Transfers to Minors Act (notwithstanding anything in
said act which may be interpreted as contrary to this grant of authority), assignees,
receivers, managing agents, as defined in this section, and any other person acting
in a similar capacity. Managing agent means a fiduciary acting in the fiduciary
relationship assumed upon the creation of a relationship which confers investment
discretion on the fiduciary, but as to which the technical legal relationship is that of
agent and principal.

Legislative History

Source: L. 77: Entire section added, p. 564, � 3, effective June 9. L. 84: Entire section amended, p. 393, � 3, effective July 1.