C.R.S. § 15-5-816 - Specific powers of trustee

Cite asC.R.S. § 15-5-816

(1) Without limiting the authority conferred by section 15-5-815, and in addition to the powers conferred pursuant to the "Colorado Fiduciaries' Powers Act", part 8 of article 1 of this title 15, a trustee may:

(a) Collect trust property and accept or reject additions to the trust property from a settlor or any other person;

(b) Acquire or sell property, for cash or on credit, at public or private sale;

(c) Exchange, partition, or otherwise change the character of trust property;

(d) Deposit trust money in an account in a regulated financial service institution;

(e) Borrow money, with or without security, and mortgage or pledge trust property for a period within or extending beyond the duration of the trust;

(f) With respect to an interest in a proprietorship, partnership, limited liability company, business trust, corporation, or other form of business or enterprise, continue the business or other enterprise and take any action that may be taken by shareholders, members, or property owners, including merging, dissolving, or otherwise changing the form of business organization or contributing additional capital;

(g) With respect to stocks or other securities, exercise the rights of an absolute power, including the right to:

(I) Vote or give proxies to vote, with or without power of substitution, or enter into or continue a voting trust agreement;

(II) Hold a security in the name of a nominee or in other form without disclosure of the trust so that title may pass by delivery;

(III) Pay calls, assessments, and other sums chargeable or accruing against the securities, and sell or exercise stock subscription or conversion rights; and

(IV) Deposit the securities with a depositary or other regulated financial service institution;

(h) With respect to an interest in real property, construct, or make ordinary or extraordinary repairs to, alterations to, or improvements in, buildings or other structures; demolish improvements; raze existing or erect new party walls or buildings; subdivide or develop land; dedicate land to public use or grant public or private easements; and make or vacate plats and adjust boundaries;

(i) Enter into a lease for any purpose as lessor or lessee, including a lease or other arrangement for exploration and removal of natural resources, with or without the option to purchase or renew, for a period within or extending beyond the duration of the trust;

(j) Grant an option involving a sale, lease, or other disposition of trust property or acquire an option for the acquisition of property, including an option exercisable beyond the duration of the trust, and exercise an option so acquired;

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