(a) A person who assists or deals with a conservator in good faith and for value in any transaction other than one requiring a court order under § 560:5-410 or 560:5-411 is protected as though the conservator properly exercised the power. That a person knowingly deals with a conservator does not alone require the person to inquire into the existence of a power or the propriety of the exercise, but restrictions on powers of conservators that are endorsed on letters as provided in § 560:5-110 are effective as to third persons. A person who pays or delivers assets to a conservator is not responsible for their proper application.
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Terms Used In Hawaii Revised Statutes 560:5-424

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
(b) Protection provided by this section extends to any procedural irregularity or jurisdictional defect that occurred in proceedings leading to the issuance of letters and is not a substitute for protection provided to persons assisting or dealing with a conservator by comparable provisions in other law relating to commercial transactions or to simplifying transfers of securities by fiduciaries.

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