The following regulation limits which legally caught fish can not be used as bait. Trout it listed so using trout parts would not be permitted.

26-112-43. Definitions and restrictions

(b) "Bait" means any animal, bait species as defined in Section 26-112-45(d), fish eggs, insect or vegetable, or parts thereof, living or dead, used with a hook for the purpose of attracting and catching fish. Any fish legally acquired, except black bass (largemouth and smallmouth), chain pickerel, northern pike, trout, charr, salmon, carp and goldfish may be used as bait, except as provided in section 26-112-48(b).