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.
La. R.S. 9:3802
Payment or transfer to fiduciary; responsibility for proper application
Known as the Uniform Fiduciaries Law
The act spans §§ 9–9 (14 sections).
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.