Louisiana Revised Statutes 9:3802 – Payment or transfer to fiduciary; responsibility for proper application
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Terms Used In Louisiana Revised Statutes 9:3802
- Fiduciary: A trustee, executor, or administrator.
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary; and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.