• Current through October 23, 2012

A person who in good faith pays or transfers to a fiduciary money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of the payment or transfer is not invalid in consequence of a misapplication by the fiduciary.

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


Prior Codifications

1981 Ed., § 21-1702.

1973 Ed., § 21-1702.

Uniform Law

This section is based upon § 2 of the Uniform Fiduciaries Act. See Volume 7A, Part I Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.