Colo. Rev. Stat. § 15-1-112
Current through Acts effective through 6/7/2024 of the 2024 Legislative Session
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.
C.R.S. § 15-1-112
For deposits by a fiduciary, see part 5 of this article.