Rhode Island General Laws 18-4-16. Payments or transfers to fiduciaries – Effect of misapplication by fiduciary
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A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary is authorized to receive, is not responsible for the proper application of the money or other property 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.
History of Section.
P.L. 1960, ch. 147, § 3.
Terms Used In Rhode Island General Laws 18-4-16
- Fiduciary: A trustee, executor, or administrator.
- person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6