Colorado § 25.5-6-411 Personal needs trust fund required

Colorado Statutes

§ 25.5-6-411 — Personal needs trust fund required

Colorado § 25.5-6-411

Title 25.5Health

Art.Colorado Medical Assistance Act -

This text of Colorado § 25.5-6-411 (Personal needs trust fund required) 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. § 25.5-6-411 (2026).

Text

All personal needs funds
must be held in trust by a residential facility authorized to provide services
pursuant to this part 4, or the residential facility's designated trustee, separate and
apart from any other funds of the facility, in a checking account or savings account
or any combination established to protect and separate the personal needs funds of
the members. At all times, the principal and all income derived from the principal in
the personal needs trust fund must remain the property of the participating
members, and the residential facility or the facility's designated trustee is bound by
all of the duties imposed by law upon fiduciaries in handling the fund including
accounting for all expenditures from the fund.

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All personal needs funds
must be held in trust by a residential facility authorized to provide services
pursuant to this part 4, or the residential facility's designated trustee, separate and
apart from any other funds of the facility, in a checking account or savings account
or any combination established to protect and separate the personal needs funds of
the members. At all times, the principal and all income derived from the principal in
the personal needs trust fund must remain the property of the participating
members, and the residential facility or the facility's designated trustee is bound by
all of the duties imposed by law upon fiduciaries in handling the fund including
accounting for all expenditures from the fund.

Legislative History

Source: L. 2006: Entire article added with relocations, p. 1947, � 7, effective July 1. L. 2024: Entire section amended, (SB 24-176), ch. 152, p. 667, � 86, effective August 7.