Colorado § 24-75-706 - Custodian - location - unlawful activities.
Full text of Colorado Colorado Revised Statutes § 24-75-706 — Custodian - location - unlawful activities., with citation guidance and answers to common questions.
§ 24-75-706. Custodian - location - unlawful activities.
(1) It is unlawful for any custodian of a local government investment pool trust fund to:
(a) Maintain the primary records of the assets of the trust fund anywhere but within the state of Colorado;
(b) Act as a trustee, administrator, or investment adviser of the trust fund, except that a financial institution, or any person employed by or directly associated with a financial institution, acting as a custodian for a trust fund is not prohibited from also acting as administrator or in any advisory capacity for such trust fund;
(c) Effect any transaction to relinquish possession of, distribute, expend, or transfer any of the assets of the trust fund without the prior written authorization of the board, except for:
(I) The purchase or sale of authorized investments or the exchange of such assets for other assets of equal or greater value provided that such sale, purchase, or exchange is solely in the accounts of the trust fund;
(II) Distributions to participating local governments; or
(III) The payment of routine fees and expenses that have been authorized by the board of trustees in the annual budget of the trust fund; or
(d) Execute any transaction with any of the assets of the trust fund without the written instruction of the investment adviser or a financial institution acting in an advisory capacity.
(2) The custodian shall reconcile the accounts of a trust fund on a daily basis.
Source: L. 93: Entire part R&RE, p. 324, § 1, effective July 1.
Source: official Colorado text · Last verified 2026-08-27
Frequently Asked Questions About Colorado § 24-75-706
What does Colorado Revised Statutes § 24-75-706 cover?
Section 24-75-706 ("Custodian - location - unlawful activities.") 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 § 24-75-706?
A common citation format is "Colorado Revised Statutes § 24-75-706" (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 § 24-75-706 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.