Colorado § 38-33.3-318 - Association as trustee.
Full text of Colorado Colorado Revised Statutes § 38-33.3-318 — Association as trustee., with citation guidance and answers to common questions.
§ 38-33.3-318. Association as trustee.
With respect to a third person dealing with the association in the association's capacity as a trustee, the existence of trust powers and their proper exercise by the association may be assumed without inquiry. A third person is not bound to inquire whether the association has the power to act as trustee or is properly exercising trust powers. A third person, without actual knowledge that the association is exceeding or improperly exercising its powers, is fully protected in dealing with the association as if it possessed and properly exercised the powers it purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the association in its capacity as trustee.
Source: L. 91: Entire article added, p. 1756, § 1, effective July 1, 1992.
Frequently Asked Questions About Colorado § 38-33.3-318
What does Colorado Revised Statutes § 38-33.3-318 cover?
Section 38-33.3-318 ("Association as trustee.") 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 § 38-33.3-318?
A common citation format is "Colorado Revised Statutes § 38-33.3-318" (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 § 38-33.3-318 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.