Sec. 2. A person who in good faith pays or transfers to a fiduciary any 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 to title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Formerly: Acts 1927, c.17, s.2.
Structure Indiana Code
Title 30. Trusts and Fiduciaries
Chapter 4. Uniform Fiduciaries Act
30-2-4-2. Application of Payments Made to Fiduciaries
30-2-4-3. Registration or Transfer of Securities Held by Fiduciaries
30-2-4-4. Transfer of Negotiable Instrument by Fiduciary
30-2-4-5. Check Drawn by Fiduciary Payable to Third Person
30-2-4-6. Check Drawn by and Payable to Fiduciary
30-2-4-7. Deposit in Name of Fiduciary
30-2-4-8. Deposit in Name of Principal
30-2-4-9. Deposit in Fiduciary's Personal Account
30-2-4-10. Deposit in Names of Two or More Trustees
30-2-4-12. Cases Not Provided For