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.
Tenn. Code Ann. § 35-2-103
Application of payments made to fiduciaries — Validity of right or title acquired
Known as the Uniform Fiduciaries Act
The act spans §§ 35–35 (12 sections).
Applied in 1 court decision — leading case Soloff v. Dollahite (1989)
Most recently applied in Soloff v. Dollahite (July 1989)
Acts 1953, ch. 82, § 2 (Williams, § 9596.19); T.C.A
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.