32-3. Application of payments made to fiduciaries.
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 or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary. (1923, c. 85, s. 2; C.S., s. 1864(f).)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 1 - Uniform Fiduciaries Act.
§ 32-3 - Application of payments made to fiduciaries.
§ 32-5 - Transfer of negotiable instrument by fiduciary.
§ 32-6 - Check drawn by fiduciary payable to third person.
§ 32-7 - Check drawn by and payable to fiduciary.
§ 32-8 - Deposit in name of fiduciary as such.
§ 32-9 - Deposit in name of principal.
§ 32-10 - Deposit in fiduciary's personal account.
§ 32-11 - Deposit in names of two or more trustees.