CO SB105

Enacts the "Colorado Uniform Directed Trust Act," establishing a comprehensive legal framework for directed trusts where a trust director exercises powers of direction over trust administration separate from the trustee.

Defines key roles and duties: trust directors have fiduciary duties similar to trustees in like positions; directed trustees must comply with trust director decisions unless doing so would constitute willful misconduct.

Limits liability and monitoring duties: trustees and directors have no duty to monitor, inform, or advise each other about differing decisions unless trust terms provide otherwise, and are protected from liability when relying on information from the other party.

Applies to trusts with principal place of administration in Colorado, effective for decisions or actions occurring on or after the effective date (generally August 2, 2019, subject to potential referendum petition).

Makes conforming amendments to Colorado trust law defining trust directors as interested persons, fiduciaries subject to court jurisdiction, and parties in trust-related court proceedings.