Colorado Uniform Trust Code (SB 18-180)

• Adds Article 5 to Title 15 establishing the Colorado Uniform Trust Code, a comprehensive statutory framework governing trusts including creation, validity, modification, termination, trustee duties, and beneficiary rights

• Applies to all express trusts (charitable and noncharitable) created before or after the effective date, excluding business trusts, security arrangements, and deposit arrangements with financial institutions

• Defines trustee duties including duties of loyalty, prudence, impartiality, and disclosure; establishes trustee powers for trust administration, investment, and management of property

• Creates remedies for breach of trust including compulsion to perform duties, injunctions, surcharged compensation, trustee removal, and liability for damages to beneficiaries

• Repeals Article 16 (Parts 1-7) of Title 15 and makes conforming amendments to related statutes; effective January 1, 2019 (subject to voter approval if referendum petition filed)