Colorado § 15-1-112 - Deposits in name of two or more trustees.
Full text of Colorado Colorado Revised Statutes § 15-1-112 — Deposits in name of two or more trustees., with citation guidance and answers to common questions.
§ 15-1-112. Deposits in name of two or more trustees.
When a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by any trustee authorized by the other trustee to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize such trustee to draw checks upon the trust account and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith.
Source: L. 23: p. 177, § 10. CSA: C. 67, § 10. CRS 53: § 57-1-10. C.R.S. 1963: § 57-1-9.
Cross references: For deposits by a fiduciary, see part 5 of this article.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-1-112
What does Colorado Revised Statutes § 15-1-112 cover?
Section 15-1-112 ("Deposits in name of two or more trustees.") 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 § 15-1-112?
A common citation format is "Colorado Revised Statutes § 15-1-112" (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 § 15-1-112 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.