(1) Unless the terms of a trust provide otherwise: (a) A trustee does not have a duty to: (I) Monitor a trust director; or(II) Inform or give advice to a settlor, beneficiary, trustee, or trust director concerning an instance in which the trustee might have acted differently than the director; and(b) By taking an action described in subsection (1)(a) of this section, a trustee does not assume a duty excluded by subsection (1)(a) of this section.(2) Unless the terms of a trust provide otherwise:(a) A trust director does not have a duty to:(I) Monitor a trustee or another trust director; or(II) Inform or give advice to a settlor, beneficiary, trustee, or another trust director concerning an instance in which the director might have acted differently than a trustee or another trust director; and(b) By taking an action described in subsection (2)(a) of this section, a trust director does not assume the duty excluded by subsection (2)(a) of this section.(3) Unless the terms of a trust provide otherwise, section 15-5-1012 does not apply to a trust director.Added by 2019 Ch. 51,§ 1, eff. 8/2/2019.L. 2019: Entire part R & RE, (SB 19-105), ch. 171, p. 171, § 1, effective August 2.
Colorado Legal Code