Colorado § 15-14-606 - Duty - standard of care - record keeping - exoneration.
Full text of Colorado Colorado Revised Statutes § 15-14-606 — Duty - standard of care - record keeping - exoneration., with citation guidance and answers to common questions.
§ 15-14-606. Duty - standard of care - record keeping - exoneration.
Unless otherwise agreed by the principal and agent in the agency instrument, an agent is under no duty to exercise the powers granted by the agency or to assume control of or responsibility for any of the principal's property or affairs. Whenever the agent exercises the powers granted by the agency, the agent shall use due care to act in the best interests of the principal in accordance with the terms of the agency. Any agent who acts under an agency instrument shall be liable for any breach of legal duty owed by the agent to the principal under Colorado law. The agent shall keep a record of all receipts, disbursements, and significant actions taken under the agency. The agent shall not be liable for any loss due to the act or default of any other person.
Source: L. 94: Entire part added, p. 1072, § 1, effective January 1, 1995. L. 2000: Entire section amended, p. 1834, § 9, effective January 1, 2001. L. 2009: Entire section amended, (HB 09-1198), ch. 106, p. 423, § 10, effective January 1, 2010.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 15-14-606
What does Colorado Revised Statutes § 15-14-606 cover?
Section 15-14-606 ("Duty - standard of care - record keeping - exoneration.") 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 § 15-14-606?
A common citation format is "Colorado Revised Statutes § 15-14-606" (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 § 15-14-606 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.