Sec. 45a-371. (Formerly Sec. 45-230t). Liability of beneficiary-fiduciary.
197 words·~1 min read·
/ct/title-45a/chapter-802b-decedents-estates/45a-371·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)As used in this section, “beneficiary-fiduciary” means either
(1)a fiduciary as defined in section 45a-353 , or
(2)a trustee, guardian, conservator, committee, and any other person who, in a fiduciary capacity, has received assets as a beneficiary or as the personal representative of a beneficiary.
(b)A beneficiary-fiduciary shall not be chargeable for any assets that such beneficiary-fiduciary may have paid or distributed in good faith before a claim is presented to such beneficiary-fiduciary. A payment or distribution of assets by a beneficiary-fiduciary shall be in good faith unless the creditor can prove that the beneficiary-fiduciary had actual knowledge of such claim at the time of such payment or distribution.
(c)A transferee of assets from a beneficiary-fiduciary who has not furnished adequate and full consideration in money or moneys worth to the beneficiary-fiduciary for such assets shall be liable to the extent of the value of such assets so received in the same manner and to the same extent as if such transferee were the original beneficiary. For the purposes of this subsection, the term “transferee” means the person to whom or for whose benefit the beneficiary-fiduciary has paid or distributed such assets.