C.R.S. Section 10-15-110
Discharge of preneed contract

  • disbursements by trustees

(1)

Before disbursing any trust assets to discharge a preneed contract, the trustee shall determine that the amount of assets to be released does not exceed the funds trusted.

(2)

If a preneed contract is canceled by the contract buyer or the contract buyer’s heirs, assigns, or duly authorized representatives, the trustee shall require a copy of the signed cancellation request before releasing trust assets.

(3)

If a preneed contract is canceled by the contract seller due to a default by the contract buyer, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such default before releasing funds.

(4)

If a preneed contract is performed by the contract seller, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such performance before releasing funds.

Source: Section 10-15-110 — Discharge of preneed contract - disbursements by trustees, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-10.­pdf (accessed Oct. 20, 2023).

Green check means up to date. Up to date

Current through Fall 2024

§ 10-15-110’s source at colorado​.gov