Colorado § 23-3.1-217 Proceeds as trust funds

Colorado Statutes

§ 23-3.1-217 — Proceeds as trust funds

Colorado § 23-3.1-217

Title 23Postsecondary Education

Art.Student Loan Program

This text of Colorado § 23-3.1-217 (Proceeds as trust funds) 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. § 23-3.1-217 (2026).

Text

Except as otherwise provided in this
part 2, all moneys received pursuant to this part 2, whether as proceeds from the
sale of bonds, notes, or other obligations or as revenues or receipts, including
moneys received under advance payment contracts shall be deemed to be trust
funds to be held and applied solely as provided in this part 2. Any officer, bank, or
trust company with which such moneys are deposited shall act as trustee of such
moneys and shall hold and apply the same for the purposes of this part 2, subject to
such policies and guidelines as the authority and the resolution authorizing the
bonds, notes, or other obligations of any issue or the trust indenture securing such
obligations provides.

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Except as otherwise provided in this
part 2, all moneys received pursuant to this part 2, whether as proceeds from the
sale of bonds, notes, or other obligations or as revenues or receipts, including
moneys received under advance payment contracts shall be deemed to be trust
funds to be held and applied solely as provided in this part 2. Any officer, bank, or
trust company with which such moneys are deposited shall act as trustee of such
moneys and shall hold and apply the same for the purposes of this part 2, subject to
such policies and guidelines as the authority and the resolution authorizing the
bonds, notes, or other obligations of any issue or the trust indenture securing such
obligations provides.

Legislative History

Source: L. 79: Entire article added, p. 821, � 1, effective July 1. L. 96: Entire section amended, p. 429, � 9, effective April 22. L. 2000: Entire section amended, p. 1285, � 12, effective May 26.