C.R.S. Section 15-1-1105
Delegation of management and investment functions

(a)

Subject to any specific limitation set forth in a gift instrument or in law other than this part 11, an institution may delegate to an external agent the management and investment of an institutional fund to the extent that an institution could prudently delegate under the circumstances. An institution shall act in good faith, with the care that an ordinarily prudent person in a like position would exercise under similar circumstances, in:

(1)

Selecting an agent;

(2)

Establishing the scope and terms of the delegation, consistent with the purposes of the institution and the institutional fund; and

(3)

Periodically reviewing the agent’s actions in order to monitor the agent’s performance and compliance with the scope and terms of the delegation.

(b)

In performing a delegated function, an agent owes a duty to the institution to exercise reasonable care to comply with the scope and terms of the delegation.

(c)

An institution that complies with subsection (a) of this section is not liable for the decisions or actions of an agent to which the function was delegated.

(d)

By accepting delegation of a management or investment function from an institution that is subject to the laws of this state, an agent submits to the jurisdiction of the courts of this state in all proceedings arising from or related to the delegation or the performance of the delegated function.

(e)

An institution may delegate management and investment functions to its committees, officers, or employees as authorized by law of this state other than this part 11.

Source: Section 15-1-1105 — Delegation of management and investment functions, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑1‑101
Short title 15‑1‑102
Legislative declaration 15‑1‑103
Definitions 15‑1‑104
Prior transactions 15‑1‑105
Application of payments to fiduciary 15‑1‑106
Transfer of negotiable instruments by fiduciary 15‑1‑107
Check drawn by fiduciary payable to third person, effect 15‑1‑108
Check drawn by and payable to fiduciary, effect 15‑1‑109
Deposit in name of fiduciary 15‑1‑110
Check drawn upon account of principal by fiduciary 15‑1‑111
Deposits in personal account of fiduciary 15‑1‑112
Deposits in name of two or more trustees 15‑1‑112.5
Liability of a fiduciary for acts of predecessor fiduciary 15‑1‑113
Cases not provided for in law 15‑1‑201
When part 2 applicable 15‑1‑201.5
Definitions 15‑1‑202
Trustee not liable, when 15‑1‑203
No liability if distribution under instrument 15‑1‑204
Rights of appointees 15‑1‑205
Rights of persons entitled 15‑1‑206
Rights of bona fide purchasers 15‑1‑301
Fiduciary defined 15‑1‑302
Application 15‑1‑303
Construction of part 3 15‑1‑304
Standard for investments 15‑1‑304.1
Standard for investments on and after July 1, 1995 - “Colorado Uniform Prudent Investor Act” 15‑1‑305
Terms of instrument govern 15‑1‑306
Court not restricted 15‑1‑308
Investments in United States government obligations 15‑1‑501
Fiduciary property kept separate 15‑1‑502
Nominees 15‑1‑503
Fiduciary property deposits 15‑1‑504
Holding of securities by fiduciary or depository of fiduciary property 15‑1‑505
Records 15‑1‑506
Liability of issuer 15‑1‑507
Custodian as fiduciary 15‑1‑508
Individual and corporate fiduciaries 15‑1‑509
Fiduciary duty 15‑1‑510
Application 15‑1‑701
Power to become partner 15‑1‑702
Family business interests - maintenance of entity - formation of successor entity 15‑1‑801
Short title 15‑1‑802
Definitions 15‑1‑803
Powers conferred on fiduciaries 15‑1‑804
Powers available 15‑1‑805
Powers of fiduciary conferred by court 15‑1‑806
Third persons protected in dealing with fiduciary 15‑1‑807
Applicability 15‑1‑1001
Legislative declaration 15‑1‑1002
Prohibition of certain acts - amendment of governing instrument 15‑1‑1003
Requirement for distribution of certain amounts 15‑1‑1004
Applicability of sections 15-1-1002 and 15-1-1003 15‑1‑1005
Rights and powers of courts and attorney general not impaired 15‑1‑1006
References to “Internal Revenue Code of 1954” 15‑1‑1007
Application of part 10 15‑1‑1101
Short title 15‑1‑1102
Definitions 15‑1‑1103
Standard of conduct in managing and investing institutional fund 15‑1‑1104
Appropriation for expenditure of accumulation of endowment fund - rules of construction 15‑1‑1105
Delegation of management and investment functions 15‑1‑1106
Release or modification of restrictions on management, investment, or purpose 15‑1‑1107
Reviewing compliance 15‑1‑1108
Application to existing institutional funds 15‑1‑1109
Relation to “Electronic Signatures in Global and National Commerce Act” 15‑1‑1110
Uniformity of application and construction 15‑1‑1201
Life estate in property - rights of surviving spouse 15‑1‑1202
Applicability of part 15‑1‑1401
Restrictions on exercise of certain fiduciary powers 15‑1‑1501
Short title 15‑1‑1502
Definitions 15‑1‑1503
Applicability 15‑1‑1504
User direction for disclosure of digital assets 15‑1‑1505
Terms-of-service agreement 15‑1‑1506
Procedure for disclosing digital assets 15‑1‑1507
Disclosure of content of electronic communications of deceased user 15‑1‑1508
Disclosure of other digital assets of deceased user 15‑1‑1509
Disclosure of content of electronic communications of principal 15‑1‑1510
Disclosure of other digital assets of principal 15‑1‑1511
Disclosure of digital assets held in trust when trustee is original user 15‑1‑1512
Disclosure of contents of electronic communications held in trust when trustee not original user 15‑1‑1513
Disclosure of other digital assets held in trust when trustee not original user 15‑1‑1514
Disclosure of digital assets to conservator of protected person 15‑1‑1515
Fiduciary duty and authority 15‑1‑1516
Custodian compliance and immunity 15‑1‑1517
Uniformity of application and construction 15‑1‑1518
Relation to electronic signatures in global and national commerce act
Green check means up to date. Up to date

Current through Fall 2024

§ 15-1-1105’s source at colorado​.gov