14-11012. Protection of person dealing with
trustee
A. 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 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.
B. A person other than a beneficiary who in good faith deals with a trustee is not
required to inquire into the extent of the trustee's powers or the propriety of their
exercise.
C. A person who in good faith delivers assets to a trustee need not ensure their
proper application.
D. 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 knowledge that the
trusteeship has terminated, is protected from liability as if the former trustee were
still a trustee.
E. 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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