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2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 1.5 - Colorado Uniform Custodial Trust Act
§ 15-1.5-119. Applicable Law
Universal Citation: CO Code § 15-1.5-119 (2021)
- This article applies to a transfer or declaration creating a custodial trust that refers to this article if, at the time of the transfer or declaration, the transferor, beneficiary, or custodial trustee is a resident of or has its principal place of business in this state or custodial trust property is located in this state. The custodial trust remains subject to this article despite a later change in residence or principal place of business of the transferor, beneficiary, or custodial trustee, or removal of the custodial trust property from this state.
- A transfer made pursuant to an act of another state substantially similar to this article is governed by the law of that state and may be enforced in this state.
History. Source: L. 99: Entire article added, p. 1224, § 1, effective August 4.
OFFICIAL COMMENT
This section is designed to avoid confusion in the event a party or assets are removed from the state.
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