PROBATE, TRUSTS, AND FIDUCIARIES
S.B. 08-100 Adult guardianship proceedings - jurisdiction between states - uniform law. Enacts the "Uniform Adult Guardianship and Protective Proceedings Jurisdiction Act". Specifies the jurisdictional rules and the rules relating to cooperation and communication between courts of different states.
APPROVED by Governor May 14, 2008
EFFECTIVE May 14, 2008
H.B. 08-1153 Colorado probate code - oversight of fiduciaries. Adds a new part to the Colorado probate code concerning oversight of fiduciaries in decedents' estates, guardianships and conservatorships, and trusts.
APPROVED by Governor April 17, 2008
EFFECTIVE July 1, 2008
H.B. 08-1173 Prudent management of institutional funds - uniform law. Replaces the "Uniform Management of Institutional Funds Act" with the "Uniform Prudent Management of Institutional Funds Act", drafted by the national conference of commissioners on uniform state laws. Excludes funds held by the public employees' retirement association and funds held by a school district retirement system from the act. Establishes the same standards for managing and investing institutional funds regardless of whether a charitable organization is organized as a trust, a nonprofit corporation, or some other entity. Imposes additional duties on those who manage and invest charitable funds to provide additional protections for charities and also protects the interests of donors who want to see their contributions used wisely. Establishes stricter guidelines on spending from endowment funds. Updates the provisions governing the release and modification of restrictions on charitable funds to permit more efficient management of these funds. Authorizes a court to modify the purposes to which a hospital foundation's funds are dedicated if the foundation proves that continued dedication of the funds to the purposes originally specified is impractical or wasteful. Directs the revisor of statutes to publish, as nonstatutory matter, the official comments to the uniform act.
APPROVED by Governor April 21, 2008
EFFECTIVE April 21, 2008
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