Section 19-1-3 Application of payments made to fiduciaries. - Alabama Statutes

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Section 19-1-3

Application of payments made to fiduciaries.

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.

(Acts 1943, No. 557, p. 544, §2.)

State Codes and Statutes

Statutes > Alabama > Title19 > Chapter1 > 19-1-3

Section 19-1-3

Application of payments made to fiduciaries.

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.

(Acts 1943, No. 557, p. 544, §2.)

State Codes and Statutes

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State Codes and Statutes

Statutes > Alabama > Title19 > Chapter1 > 19-1-3

Section 19-1-3

Application of payments made to fiduciaries.

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.

(Acts 1943, No. 557, p. 544, §2.)