Colorado § 15-1.5-111 Exemption of third persons from liability

Colorado Statutes

§ 15-1.5-111 — Exemption of third persons from liability

Colorado § 15-1.5-111

Title 15Probate,

Art.Colorado Uniform Custodial Trust Act

This text of Colorado § 15-1.5-111 (Exemption of third persons from liability) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 15-1.5-111 (2026).

Text

(1)A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:

(a)The validity of the purported custodial trustee's designation;

(b)The propriety of, or the authority under this article for, any action of the purported custodial trustee;

(c)The validity or propriety of an instrument executed or instruction given pursuant to this article either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or

(d)The propriety of the application of property vested in the purported custodial trus

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(1) A third person in
good faith and without a court order may act on instructions of, or otherwise deal
with, a person purporting to make a transfer as, or purporting to act in the capacity
of, a custodial trustee. In the absence of knowledge to the contrary, the third
person is not responsible for determining:

(a) The validity of the purported custodial trustee's designation;

(b) The propriety of, or the authority under this article for, any action of the
purported custodial trustee;

(c) The validity or propriety of an instrument executed or instruction given
pursuant to this article either by the person purporting to make a transfer or
declaration or by the purported custodial trustee; or

(d) The propriety of the application of property vested in the purported
custodial trustee.