A bank's duties regarding the holding of uninvested or undistributed funds that are awaiting investment or distribution are governed by the 'Colorado Uniform Prudent Investor Act', article 1.1 of title 15, C.R.S., the 'Uniform Prudent Management of Institutional Funds Act', part 11 of article 1 of title 15, C.R.S., and applicable standards and requirements imposed by the federal deposit insurance corporation.Added by 2013 Ch. 282, §17, eff. 7/1/2013.L. 2013: Entire section added, (SB 13-154), ch. 282, p. 1467, § 17, effective July 1.
Colorado Legal Code