With respect to a third person dealing with a trustee or assisting a trustee in the conduct of a transaction, the existence of trust powers and their proper exercise by the trustee may be assumed without inquiry. The third person is not bound to inquire whether the trustee has power to act or is properly exercising the power; and a third person, without actual knowledge that the trustee is exceeding his powers or improperly exercising them, is fully protected in dealing with the trustee as if the trustee possessed and properly exercised the powers he purports to exercise. A third person is not bound to assure the proper application of trust assets paid or delivered to the trustee.
Idaho Code § 68-110
Third persons protected in dealing with trustee
Known as the Uniform Trustees’ Powers Act
The act spans §§ 68–68 (21 sections).
Applied in 1 court decision — leading case 678 So. 2d 693 - Collier v. TRUSTMARK NAT. BANK (1996)
Most recently applied in 678 So. 2d 693 - Collier v. TRUSTMARK NAT. BANK (July 1996)
1965, ch. 95, § 7, p. 173.
Current official text: Idaho Statutes (Idaho Legislature). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Idaho statutes; confirm against the official source for the current text. Not legal advice.