Colorado § 15-1.2-304 - Notice.
Full text of Colorado Colorado Revised Statutes § 15-1.2-304 — Notice., with citation guidance and answers to common questions.
§ 15-1.2-304. Notice.
(1) A notice required by section 15-1.2-303 (2)(b) must be sent in a manner authorized under section 15-5-109 to:
(a) The qualified beneficiaries determined under section 15-5-103 (16), other than the attorney general; and
(b) Each person acting as trust director of the trust under the "Colorado Uniform Directed Trust Act", part 8 of article 16 of this title 15; and
(c) Each person that is granted a power by the terms of the trust to appoint or remove a trustee or person described in subsection (1)(b) of this section, to the extent that power is exercisable when the person is not then serving as a trustee or person described in subsection (1)(b) of this section.
(2) The representation provisions of sections 15-5-301 through 15-5-305 apply to notice under this section.
(3) A person may consent in a record at any time to action proposed under section 15-1.2-303 (2)(b). A notice required by section 15-1.2-303 (2)(b) need not be sent to a person that consents under this subsection (3).
(4) A notice required by section 15-1.2-303 (2)(b) must include:
(a) The action proposed under section 15-1.2-303 (2)(b);
(b) For a conversion of an income trust to a unitrust, a copy of the unitrust policy adopted under section 15-1.2-303 (1)(a);
(c) For a change in the percentage or method used to calculate the unitrust amount, a copy of the unitrust policy or amendment or replacement of the unitrust policy adopted under section 15-1.2-303 (1)(b);
(d) A statement that the person to which the notice is sent may object to the proposed action by stating in a record the basis for the objection and sending or delivering the record to the fiduciary;
(e) The date by which an objection under subsection (4)(d) of this section must be received by the fiduciary, which must be at least thirty days after the date the notice is sent;
(f) The date on which the action is proposed to be taken and the date on which the action is proposed to take effect;
(g) The name and contact information of the fiduciary; and
(h) The name and contact information of a person that may be contacted for additional information.
Source: L. 2021: Entire article added, (SB 21-171), ch. 143, p. 814, § 1, effective January 1, 2022.
Frequently Asked Questions About Colorado § 15-1.2-304
What does Colorado Revised Statutes § 15-1.2-304 cover?
Section 15-1.2-304 ("Notice.") 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 § 15-1.2-304?
A common citation format is "Colorado Revised Statutes § 15-1.2-304" (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 § 15-1.2-304 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.