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Code · Montana · Title 72 — Estates, Trusts, and Fiduciary Relationships · Chapter 38 · Part 10

72-38-1012. Protection of person dealing with trustee.

183 words·~1 min read·/mt/title-72/chapter-38/part-10/72-38-1012·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

72-38-1012 . Protection of person dealing with trustee.
(1)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 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.
(2)A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.
(3)A person who in good faith delivers assets to a trustee need not ensure their proper application.
(4)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 knowledge that the trusteeship has terminated is protected from liability as if the former trustee were still a trustee.
(5)Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.
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