§ 15-1.2-304 — Notice

Colorado § 15-1.2-304

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Uniform Fiduciary Income and Principal Act

Text

(1) A notice required by section 15-1.2-303 (2)(b) must be
sent in a manner authorized under section 15-5-109 to:

(a) The qualified beneficiaries determined under section 15-5-103 (16), other
than the attorney general; and

(b) Each person acting as trust director of the trust under the Colorado
Uniform Directed Trust Act, part 8 of article 16 of this title 15; and

(c) Each person that is granted a power by the terms of the trust to appoint
or remove a trustee or person described in subsection (1)(b) of this section, to the
extent that power is exercisable when the person is not then serving as a trustee or
person described in subsection (1)(b) of this section.

(2) The representation provisions of sections 15-5-301 through 15-5-305
apply to notice under this section.

(3) A person may consent in a record at any time to action proposed under
section 15-1.2-303 (2)(b). A notice required by section 15-1.2-303 (2)(b) need not be
sent to a person that consents under this subsection (3).

(4) A notice required by section 15-1.2-303 (2)(b) must include:

(a) The action proposed under section 15-1.2-303 (2)(b);

(b) For a conversion of an income trust to a unitrust, a copy of the unitrust
policy adopted under section 15-1.2-303 (1)(a);

(c) For a change in the percentage or method used to calculate the unitrust
amount, a copy of the unitrust policy or amendment or replacement of the unitrust
policy adopted under section 15-1.2-303 (1)(b);

(d) A statement that the person to which the notice is sent may object to the
proposed action by stating in a record the basis for the objection and sending or
delivering the record to the fiduciary;

(e) The date by which an objection under subsection (4)(d) of this section
must be received by the fiduciary, which must be at least thirty days after the date
the notice is sent;

(f) The date on which the action is proposed to be taken and the date on
which the action is proposed to take effect;

(g) The name and contact information of the fiduciary; and

(h) The name and contact information of a person that may be contacted for
additional information.

Legislative History

Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 814, � 1, effective January 1, 2022.