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.)
1981 Ed., § 21-1702.
1973 Ed., § 21-1702.
Joint or trust accounts, safe deposit boxes, etc., see § 26-801 et seq.
Uniform Law: This section is based upon § 2 of the Uniform Fiduciaries Act.
Structure District of Columbia Code
Title 21 - Fiduciary Relations and Persons with Mental Illness. [Enacted title]
Chapter 17 - General Fiduciary Relations
Subchapter I - Uniform Fiduciaries Act
§ 21–1702. Application of payment made to fiduciaries
§ 21–1703. Transfer of negotiable instruments by fiduciary
§ 21–1704. Check drawn by fiduciary payable to third person
§ 21–1705. Check drawn by and payable to fiduciary
§ 21–1706. Deposit in name of fiduciary as such
§ 21–1708. Conforming amendment
§ 21–1709. Deposit in names of two or more trustees
§ 21–1710. Law not retroactive