55-7 THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS
THIRD-PARTY RESPONSIBILITY FOR FIDUCIARY ACTS
Liability of third persons dealing with trustees.
Definition of terms.
A thing done "in good faith" defined.
Payment or transfer to fiduciary--Nonliability of transferor for improper application.
Check or bill of exchange drawn by fiduciary payable to third person--Liability of
Transfer of check or bill of exchange drawn by fiduciary who holds it as payee or
Bank account in name of fiduciary--Check drawn by fiduciary--Bank's liability to
Bank account in name of principal--Check drawn by fiduciary--Bank's liability to
Deposit in bank to fiduciary's personal account--Bank's liability to principal.
Deposit in bank in names of two or more trustees--Check drawn by one.
Negotiable instrument transferred by fiduciary.
Law governing transactions not within Uniform Fiduciaries Act.
Act not retroactive.
Uniformity of interpretation.
Citation of uniform act.