A person who in good faith pays or transfers to a fiduciary 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 the payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
D.C. Code § 21-1702
Application of payment made to fiduciaries
Known as the Uniform Fiduciaries Act
The act spans §§ 21–21 (12 sections).
Sept. 14, 1965, 79 Stat. 776, Pub
Official source: D.C. Law Library (Council of the District of Columbia). Reproduced from public-domain District of Columbia statutes; confirm against the official source for the current text. Not legal advice.