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2016 Kentucky Revised Statutes
CHAPTER 386 - ADMINISTRATION OF TRUSTS -- LEGAL INVESTMENTS -- UNIFORM PRINCIPAL AND INCOME ACT
.100 Application of payments made to a fiduciary -- Section not applicable to trustees.

KY Rev Stat § .100 (2016) What's This?

Download as PDF 386.100 Application of payments made to a fiduciary -- Section not applicable to trustees. (1) (2) Any 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 shall not be responsible for the proper application thereof by the fiduciary, and any right or title acquired from the fiduciary in consideration of the payment or transfer shall not be invalid because of a misapplication by the fiduciary. This section shall not apply to trustees. Effective: July 15, 2014 History: Amended 2014 Ky. Acts ch. 25, sec. 102, effective July 15, 2014. -Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4711-2.

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