Sec. 2. 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 to title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Ind. Code § 30-2-4-2
Application of payments made to fiduciaries
Known as the Uniform Fiduciaries Act
The act spans §§ 30–30 (14 sections).
Formerly: Acts 1927, c.17, s.2.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.