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.
Minn. Stat. § 520.02
APPLICATION OF PAYMENTS MADE TO FIDUCIARIES.
Known as the Uniform Fiduciaries Act
The act spans §§ 520–520 (22 sections).
1945 c 202 s 2
Official source: Minnesota Office of the Revisor of Statutes. Reproduced from public-domain Minnesota statutes; confirm against the official source for the current text. Not legal advice.