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j_ccu_2017a_2017-09-22t13:35:00z1 Hearing Summary

Date: 09/22/2017

Location: SCR 352


Updates on Colorado Bar Association discussions


Votes: View--> Action Taken:
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01:41 PM -- Updates on Colorado Bar Association discussions

3. Updates on Colorado Bar Association discussions regarding:

        a. Uniform Commercial Real Estate Receivership ActCharles Calvin and Joey Lubinski, CBA Real Estate Section. The CBA’s understanding is that the CBA’s proposed changes make the Colorado version of this act nonuniform and no longer a commission bill. Should another sponsor be interested in adopting portions of the act in Colorado, the CBA would be willing to continue to work on this and formalize their position on it.

        b. Uniform Trust CodeSteve Brainerd, CBA Trusts & Estates Section. Three years ago, the CBA was charged with exploring the possibility of adopting the Uniform Trust Code, or portions of it, in Colorado. The section proposed substantive changes include omitting part 5 of the Uniform Law Commission (ULC) act dealing with creditor rights and keeping Colorado’s laws instead and highlighting alternative dispute resolution (ADR) and its potential use in resolving disputes. The section plans to take another look at incorporating the omitted part 5 in the future. Other changes were to incorporate large chunks of Colorado law such as trust registrations, pet trusts, costs and compensation, and court tools for dealing with breaches of trusts. He believes that other sections of the bar support the Colorado version of the act, but has not yet received formal bar approval. He proposes that it be referred to as “The Colorado Trust Code” and is pleased to announce that the Colorado version has received approval from the ULC as a uniform act and recommends against including ULC official comments. The commission asked whether banker organizations had been involved in the drafting process and whether the CBA had insight into what type of opposition could might be anticipated to the act, and thanked them for their hard work.

          John Burrus, Independent Bankers of Colorado (IBC), stated that the IBC was not involved in discussions and does not anticipate issues, but would like to see a draft.

        c. Revised Uniform Residential Landlord and Tenant Act - Charles Calvin, CBA Real Estate Section, stated that the CBA did provide a comprehensive comparison document last year for the commission’s consideration. The commission expressed appreciation to the CBA for their work on the comparison document and observed that there does not seem to legislative interest in pursuing this at this time.