All personal needs funds must be held in trust by a residential facility authorized to provide services pursuant to this part 4, or the residential facility's designated trustee, separate and apart from any other funds of the facility, in a checking account or savings account or any combination established to protect and separate the personal needs funds of the members. At all times, the principal and all income derived from the principal in the personal needs trust fund must remain the property of the participating members, and the residential facility or the facility's designated trustee is bound by all of the duties imposed by law upon fiduciaries in handling the fund including accounting for all expenditures from the fund.Amended by 2024 Ch. 152,§ 86, eff. 8/7/2024.L. 2006: Entire article added with relocations, p. 1947, § 7, effective July 1.This section is similar to former § 26-4-631 as it existed prior to 2006.2024 Ch. 152, was passed without a safety clause. See Colo. Const. art. V, § 1(3).