C.R.S. Section 15-16-808
Duty and liability of trust director

(1)

Subject to subsection (2) of this section, with respect to a power of direction or a further power under section 15-16-806 (2)(a):

(a)

A trust director has the same fiduciary duty and liability in the exercise or nonexercise of the power:

(I)

If the power is held individually, as a sole trustee in a like position and under similar circumstances; or

(II)

If the power is held jointly with a trustee or another trust director, as a cotrustee in a like position and under similar circumstances; and

(b)

The terms of the trust may vary the director’s duty or liability to the same extent the terms of the trust could vary the duty or liability of a trustee in a like position and under similar circumstances.

(2)

Unless the terms of a trust provide otherwise, if a trust director is licensed, certified, or otherwise authorized or permitted by law other than this part 8 to provide health care in the ordinary course of the director’s business or practice of a profession, to the extent the director acts in that capacity, the director has no duty or liability under this part 8.

(3)

The terms of a trust may impose a duty or liability on a trust director in addition to the duties and liabilities under this section.

Source: Section 15-16-808 — Duty and liability of trust director, https://leg.­colorado.­gov/sites/default/files/images/olls/crs2023-title-15.­pdf (accessed Oct. 20, 2023).

15‑16‑801
Short title 15‑16‑802
Definitions 15‑16‑803
Application - principal place of administration 15‑16‑804
Common law and principles of equity 15‑16‑805
Exclusions - definition 15‑16‑806
Powers of trust director 15‑16‑807
Limitations on powers of trust director 15‑16‑808
Duty and liability of trust director 15‑16‑809
Duty and liability of directed trustee 15‑16‑810
Duty to provide information to trust director or trustee 15‑16‑811
No duty to monitor, inform, or advise 15‑16‑812
Application to cotrustee 15‑16‑813
Limitations of action against trust director 15‑16‑814
Defenses in action against trust director 15‑16‑815
Jurisdiction over trust director 15‑16‑816
Office of trust director 15‑16‑817
Uniformity of application and construction 15‑16‑818
Relation to electronic signatures in global and national commerce act 15‑16‑901
Short title 15‑16‑902
Definitions 15‑16‑903
Scope - definitions 15‑16‑904
Fiduciary duty 15‑16‑905
Application - governing law 15‑16‑906
Reasonable reliance 15‑16‑907
Notice - exercise of decanting power 15‑16‑908
Representation 15‑16‑909
Court involvement 15‑16‑910
Formalities 15‑16‑911
Decanting power under expanded distributive discretion - definitions 15‑16‑912
Decanting power under limited distributive discretion - definitions 15‑16‑913
Trust for beneficiary with disability - definitions 15‑16‑914
Protection of charitable interest - definitions 15‑16‑915
Trust limitation on decanting 15‑16‑916
Change in compensation 15‑16‑917
Relief from liability and indemnification 15‑16‑918
Removal or replacement of authorized fiduciary 15‑16‑919
Tax-related limitations - definitions 15‑16‑920
Duration of second trust 15‑16‑921
Need to distribute not required 15‑16‑922
Saving provision 15‑16‑923
Trust for care of animal - definitions 15‑16‑924
Terms of second trust 15‑16‑925
Settlor 15‑16‑926
Later-discovered property 15‑16‑927
Obligations 15‑16‑928
Uniformity of application and construction 15‑16‑929
Relation to electronic signatures in global and national commerce act 15‑16‑930
Severability
Green check means up to date. Up to date

Current through Fall 2024

§ 15-16-808’s source at colorado​.gov