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2017a_1157_ren.pdf
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🔗 Source: leg.colorado.gov
📊 Size: 128 KB
👤 Author: administrator
⬇️ Downloads: 61

Summary

The bill requires trustees to provide additional information in a certificate of trust when opening a trust deposit account with a bank. The bank may rely on the certificate of trust for any transaction unless it has knowledge that the certificate is contrary to the trust agreement. The bill also allows credit unions to rely on a certificate of trust in the same manner as a bank. The certificate of trust must include information such as the name of the trust, the identity of the settlor, the powers of the trustee, and whether the trust is revocable. The bank or credit union may not be liable for administering the account as provided by the certificate of trust unless it has actual knowledge that the terms of the written trust agreement are contrary to the terms of the certificate of trust.

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Description

The bill requires trustees to provide additional information in a certificate of trust when opening a trust deposit account with a bank.

Technical Information

  • File Format: PDF
  • File Size: 128 KB
  • Pages: 7
  • Language: EN
  • Author: administrator
  • Total Downloads: 61
  • Last Updated: 13 hours ago

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