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(1) Before disbursing any trust assets to discharge a preneed contract, the trustee shall determine that the amount of assets to be released does not exceed the funds trusted.
(2) If a preneed contract is canceled by the contract buyer or the contract buyer's heirs, assigns, or duly authorized representatives, the trustee shall require a copy of the signed cancellation request before releasing trust assets.
(3) If a preneed contract is canceled by the contract seller due to a default by the contract buyer, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such default before releasing funds.
(4) If a preneed contract is performed by the contract seller, the trustee shall require an affidavit from an officer or owner of the contract seller setting forth such performance before releasing funds.
Cite this article: FindLaw.com - Colorado Revised Statutes Title 10. Insurance § 10-15-110. Discharge of preneed contract--disbursements by trustees - last updated January 01, 2019 | https://codes.findlaw.com/co/title-10-insurance/co-rev-st-sect-10-15-110/
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