N.C. Gen. Stat. § 32-3
Application of payments made to fiduciaries
Redline — June 1, 2021 → current.View current text →
Current — April 1, 2022
As of June 1, 2021
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.
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.
History
(1923, c. 85, s. 2; C.S., s. 1864(f).)
Legal Periodicals. - For discussion of section, see 1 N.C.L. Rev. 291 (1923).
§ 32-4: Repealed by Session Laws 1977, c. 814, s. 8.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.