• Current through October 23, 2012

(a) In this chapter unless the context otherwise requires:

"bank" includes a person or association of persons, whether incorporated or not, carrying on the business of banking;

"fiduciary" includes a trustee under a trust, express, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or other person acting in a fiduciary capacity for a person, trust, or estate;

"person" includes a corporation, partnership, or other association, or two or more persons having a joint or common interest;

"principal" includes a person to whom a fiduciary as such owes an obligation.

(b) A thing is done "in good faith" within the meaning of this chapter, when it is in fact done honestly, whether negligently or not.

(Sept. 14, 1965, 79 Stat. 776, Pub. L. 89-183, § 1.)


Prior Codifications

1981 Ed., § 21-1701.

1973 Ed., § 21-1701.

Uniform Law

This section is based upon § 1 of the Uniform Fiduciaries Act. See Volume 7A, Part I Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.