(1) A personal representative or trustee may discharge his obligation to distribute to any person under legal disability:
By distributing to his conservator; or
By distributing to any person authorized by law to give a valid receipt and dischargefor the distribution; or
The court may authorize distribution to a parent or relative of or a person having thecustody and being responsible for the care of the person under disability for such person's use or benefit, subject to such terms and conditions as the court shall direct and approve; or
By distributing in any way authorized by the terms of the will or trust instrument orby the "Colorado Uniform Transfers to Minors Act", article 50 of title 11, C.R.S.; but, in making any such distribution, the personal representative or trustee has a duty to act as a prudent man with due regard to the obligations of a fiduciary.
Source: L. 73: R&RE, p. 1601, § 1. C.R.S. 1963: § 153-3-915. L. 81: (1)(d) amended, p. 915, § 9, effective July 1. L. 84: (1)(d) amended, p. 394, § 7, effective July 1.