7-3.3 - Person paying money to the trustee protected
§ 7-3.3 Person paying money to the trustee protected A person who in good faith transfers money or property to a trustee is not responsible for the proper application of such money or property; and any right or title derived by him from the trustee in consideration of such transfer is not affected by the trustee's misapplication of such money or property.
Scroll for next New York statute…