Massachusetts General Laws ch. 190B sec. 5-430 – Payment of debt and delivery of property to foreign conservator without local proceedings
Section 5–430. [Payment of Debt and Delivery of Property to Foreign Conservator without Local Proceedings.]
Terms Used In Massachusetts General Laws ch. 190B sec. 5-430
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
(a) Any person indebted to a protected person or having possession of property or of an instrument evidencing a debt, stock, or chose in action belonging to a protected person may pay or deliver it to a conservator, guardian of the estate, or other like fiduciary appointed by a court of the state of residence of the protected person upon being presented with proof of appointment and an affidavit made by or on behalf of the fiduciary stating:
(1) that no protective proceeding relating to the protected person is pending in the commonwealth; and
(2) that the foreign fiduciary is entitled to payment or to receive delivery.
(b) If the person to whom the affidavit is presented is not aware of any protective proceeding pending in the commonwealth, payment or delivery in response to the demand and affidavit discharges the debtor or possessor.