§ 15-5-113 — Alternate dispute resolution

Colorado § 15-5-113

• Jurisdiction: Colorado
• Title 15: Probate,
• Art.: Colorado Uniform Trust Code

Text

(1) A settlor may designate in the
trust instrument a method of nonjudicial alternate dispute resolution that is valid,
enforceable, and irrevocable, except on a ground that exists at law or in equity for
the invalidation of a trust. Such methods of nonjudicial dispute resolution may
include rules of notice and procedure. The settlor may bind beneficiaries and
assigns to the methods of dispute resolution.

(2) A method of nonjudicial dispute resolution provided by the settlor in the
trust instrument does not preclude the court's authority to enter an order of
alternate dispute resolution, which does not eliminate or negate the method of
nonjudicial dispute resolution provided by the settlor except on a ground that exists
at law or in equity for the invalidation of a trust.

Legislative History

Source: L. 2018: Entire article added, (SB 18-180), ch. 169, p. 1152, � 1, effective January 1, 2019.