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2021 Colorado Code
Title 15 - Probate, Trusts, and Fiduciaries
Article 16 - Trust Administration
Part 8 - Colorado Uniform Directed Trust Act
§ 15-16-809. Duty and Liability of Directed Trustee
Universal Citation: CO Code § 15-16-809 (2021)
- Subject to subsection (2) of this section, a directed trustee shall take reasonable action to comply with a trust director's exercise or nonexercise of a power of direction or further power under section 15-16-806 (2)(a), and the trustee is not liable for the action.
- A directed trustee must not comply with a trust director's exercise or nonexercise of a power of direction or further power under section 15-16-806 (2)(a) to the extent that by complying the trustee would engage in willful misconduct.
- An exercise of a power of direction under which a trust director may release a trustee or another trust director from liability for breach of trust is not effective if:
- The breach involved the trustee's or other director's willful misconduct;
- The release was induced by improper conduct of the trustee or other director in procuring the release; or
- At the time of the release, the director did not know the material facts relating to the breach.
- A directed trustee that has reasonable doubt about its duty under this section may petition the court for instructions.
- The terms of a trust may impose a duty or liability on a directed trustee in addition to the duties and liabilities under this section.
History. Source: L. 2019: Entire part R&RE, (SB 19-105), ch. 51, p. 170, § 1, effective August 2.
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