Colorado § 15-1-507 - Custodian as fiduciary.
Full text of Colorado Colorado Revised Statutes § 15-1-507 — Custodian as fiduciary., with citation guidance and answers to common questions.
§ 15-1-507. Custodian as fiduciary.
For purposes of this part 5, a bank or trust company acting as custodian shall be deemed to be a fiduciary, and property held in custody by a bank or trust company shall be deemed to be fiduciary property.
Source: L. 77: Entire part R&RE, p. 827, § 1, effective July 1.
Editor's note: This section is similar to former § 15-1-507 as it existed prior to 1977.
ANNOTATION
Bank acknowledgment of restriction in letters of conservatorship made bank more than a mere custodian; bank became a fiduciary. Pledging collateral consisting of conservatorship funds breached fiduciary duty because bank failed to refrain from involvement in transactions antagonistic to the interests of the protected person. In re Conservatorship of Roth, 804 P.2d 265 (Colo. App. 1990).
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-1-507
What does Colorado Revised Statutes § 15-1-507 cover?
Section 15-1-507 ("Custodian as fiduciary.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 15-1-507?
A common citation format is "Colorado Revised Statutes § 15-1-507" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 15-1-507 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.