§ 15-1.2-803 — Application to trust or estate

Colorado § 15-1.2-803

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

Text

(1) Except as provided in the
terms of the trust and subsection (2) of this section, this article 1.2 shall take effect
on January 1, 2022.

(2) (a) This article 1.2 shall not apply to a trust established under a will or
trust agreement existing and irrevocable on July 1, 2001, if a trustee of the trust has
elected to apply the Uniform Principal and Income Act of this state that was in
effect on June 30, 2001.

(b) This article 1.2 shall not apply to a trust existing on July 1, 2001, in which
no trustee had the authority to act under section 15-1-404 of the Uniform Principal
and Income Act, subparts 1 to 6 of part 4 of article 1 of this title 15, as it existed on
or after July 1, 2001, unless a trustee of the trust elected to apply the Uniform
Principal and Income Act as it existed on or after July 1, 2001.

Legislative History

Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 840, � 1, effective January 1, 2022.