C.R.S. Section 15-16-918
Removal or replacement of authorized fiduciary


(1)

An authorized fiduciary may not exercise the decanting power to modify a provision in a first-trust instrument granting another person power to remove or replace the fiduciary unless:

(a)

The person holding the power consents to the modification in a signed record and the modification applies only to the person;

(b)

The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed record and the modification grants a substantially similar power to another person; or

(c)

The court approves the modification and the modification grants a substantially similar power to another person.

Source: Section 15-16-918 — Removal or replacement of authorized fiduciary, 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

§ 15-16-918’s source at colorado​.gov