Exemption of third persons from liability

C.R.S. § 15-1.5-111
in effect
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15-1.5-111. Exemption of third persons from liability. (1) A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining: (a) The validity of the purported custodial trustee's designation; (b) The propriety of, or the authority under this article for, any action of the purported custodial trustee; (c) The validity or propriety of an instrument executed or instruction given pursuant to this article either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or (d) The propriety of the application of property vested in the purported custodial trustee.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://leg.colorado.gov/sites/default/files/images/olls/crs2024-title-15.docx#15-1.5-111Fetched: 10/6/2026

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