Location: SCR 357
BILL SUMMARY for HB17-1157
SENATE COMMITTEE ON FINANCE
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02:13 PM -- HB17-1157
Senator Priola, prime sponsor, presented House Bill 17-1157, which requires that a certificate of trust be provided for any bank transaction and expands the information that must be on a certificate of trust to include: a statement that the trust exists and the date the trust instrument was first executed; the identity of the settlor; the identity of the current trustee; the power of the trustee in the transaction; whether the trust is revocable and the identity of any person who can revoke the trust; the authority of cotrustees to sign and whether all the cotrustees are required to sign an order to exercise the powers of the trustees; and the name in which the title to trust property may be taken.
02:14 PM -- Jenifer Waller, representing the Colorado Bankers Association, testified in support of the bill.
The bill was laid over until later in the meeting. The committee recessed.