75A-1-203. Payments or transfers made to a fiduciary.
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/ut/title-75a/chapter-1/75a-1-203·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 9/1/2024
75A-1-203. Payments or transfers made to a fiduciary.
(1)A person who in good faith pays or transfers to a fiduciary any money or other property that the fiduciary is authorized to receive is not responsible for the proper application of the money or property by the fiduciary.
(2)A right or title acquired from the fiduciary in consideration of a payment or transfer described in Subsection
(1)is not invalid as a consequence of a misapplication by the fiduciary.
Renumbered and Amended by Chapter 364 , 2024 General Session