Fiduciary defined

11-24-107. Fiduciary defined. The word fiduciary, whenever used in this article, means a bank or trust company undertaking to act alone or jointly with others primarily for the benefit of another or others in all matters connected with its undertaking and includes personal representatives [including executors, administrators, administrators with the will annexed (cum testamento annexo), administrators in succession acting under a will (de bonis non), ancillary administrators acting under a will, and ancillary executors], special administrators, guardians, conservators, trustees, whether of express or implied trusts, custodians under the Colorado Uniform Transfers to Minors Act (notwithstanding anything in said act which may be interpreted as contrary to this grant of authority), assignees, receivers, managing agents, as defined in this section, and any other person acting in a similar capacity. Managing agent means a fiduciary acting in the fiduciary relationship assumed upon the creation of a relationship which confers investment discretion on the fiduciary, but as to which the technical legal relationship is that of agent and principal. Source: L. 77: Entire section added, p. 564, � 3, effective June 9. L. 84: Entire section amended, p. 393, � 3, effective July 1. Cross references: For the Colorado Uniform Transfers to Minors Act, see article 50 of this title 11. BRANCH INSTITUTIONS ARTICLE 25 Financial Institutions - Operation of Branches - Organizational and Operational Equality 11-25-101 to 11-25-107. (Repealed) Source: L. 2003: Entire article repealed, p. 1051, � 1, effective July 1. Editor's note: (1) This article was added in 1991. For amendments to this article prior to its repeal in 2003, consult the Colorado statutory research explanatory note and the table itemizing the replacement volumes and supplements to the original volume of C.R.S. 1973 beginning on page vii in the front of this volume. (2) The provisions of this article were relocated to articles 101 to 109 of this title. For the location of specific provisions, see the editor's notes following each section in said articles. CREDIT UNIONS ARTICLE 30 Credit Unions - General Provisions Cross references: For the Revised Uniform Unclaimed Property Act, see article 13 of title 38. Law reviews: For article, Arbitrating Lender Liability Claims, see 18 Colo. Law. 879 (1989).