Code of Alabama |
Match Context and Document information |
URL: | http://alisondb.legislature.state.al.us/alison/CodeOfAlabama /1975/26-2A-151.htm |
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Depth: | 0 singles |
Size: | 1,428 bytes |
Modified: | 1997-12-16 13:32:02 |
Categories: | -None- |
Title: | 26-2A-151 |
Description: | -None- |
Keywords: | -None- |
Meta data: | -None- |
Body: | Section 26-2A-151 Persons dealing with conservators; protection. (a) A person who in good faith either assists or deals with a conservator for value in any transaction other than those requiring a court order as provided in Section 26-2A-136 is protected as if the conservator properly exercised the power. The fact that a person knowingly deals with a conservator does not alone require the person to inquire into the existence of a power or the propriety of its exercise, but restrictions on powers of conservators which are endorsed on letters as provided in Section 26-2A-154 are effective as to third persons. A person is not bound to see to the proper application of estate assets paid or delivered to a conservator. (b) The protection expressed in this section extends to any procedural irregularity or jurisdictional defect occurring in proceedings leading to the issuance of letters and is not a substitution for protection provided by comparable provisions of the law relating to commercial transactions or to simplify transfers of securities by fiduciaries. (Acts 1987, No. 87-590, p. 975, ยง2-322.) |