§560:5-423 - Sale, encumbrance, or other transaction involving conflict of interest.
§560:5-423 Sale, encumbrance, or other
transaction involving conflict of interest. Any transaction involving the
conservatorship estate that is affected by a substantial conflict between the
conservator's fiduciary and personal interests is voidable unless the
transaction is expressly authorized by the court after notice to interested
persons. A transaction affected by a substantial conflict between personal and
fiduciary interests includes any sale, encumbrance, or other transaction
involving the conservatorship estate entered into by the conservator, the
spouse or reciprocal beneficiary, descendant, agent, or lawyer of a
conservator, or a corporation or other enterprise in which the conservator has
a substantial beneficial interest. [L 2004, c 161, pt of §1]