2020 Mississippi Code
Title 91 - Trusts and Estates
Chapter 8 - Mississippi Uniform Trust Code
Article 10 - Liability of Trustees and Rights of Persons Dealing with Trustee
§ 91-8-1012. Protection of person dealing with trustee

Universal Citation:
MS Code § 91-8-1012 (2020)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

A person other than a beneficiary who in good faith assists a trustee, or who in good faith and for value deals with a trustee, without actual knowledge that the trustee is exceeding or improperly exercising the trustee's powers is protected from liability as if the trustee properly exercised the power.

A person other than a beneficiary who in good faith assists a trustee or deals with a trustee is not required to inquire into the extent of the trustee's powers or the propriety of their exercise.

A person who in good faith delivers assets to a trustee need not ensure their proper application.

A person other than a beneficiary who in good faith assists a former trustee, or who in good faith and for value deals with a former trustee, without actual knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.

Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.

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