A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without actual knowledge that the trustee is exceeding or improperly exercising the trustee's powers is protected from liability as if the trustee properly exercised the power.
A person other than a beneficiary who in good faith assists a trustee or deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.
A person who in good faith delivers assets to a trustee need not ensure their proper application.
A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without actual knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.
Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.
Structure Mississippi Code
Chapter 8 - Mississippi Uniform Trust Code
Article 10 - Liability of Trustees and Rights of Persons Dealing with Trustee
§ 91-8-1001. Remedies for breach of trust
§ 91-8-1002. Damages for breach of trust
§ 91-8-1003. Damages in absence of breach
§ 91-8-1004. Attorney's fees and costs
§ 91-8-1006. Reliance on trust instrument
§ 91-8-1007. Event affecting administration or distribution
§ 91-8-1008. Exculpation of trustee
§ 91-8-1009. Beneficiary's consent, release, or ratification
§ 91-8-1010. Limitation on personal liability of trustee
§ 91-8-1011. Interest as general partner
§ 91-8-1012. Protection of person dealing with trustee
§ 91-8-1013. Certification of trust
§ 91-8-1014. Enforcement of no-contest, in terrorem or forfeiture provisions