§560:3-909 Improper distribution; liability of distributee. Unless the distribution or payment no longer can be questioned because of adjudication, estoppel, or limitation, a distributee of property improperly distributed or paid, or a claimant who was improperly paid, is liable to return the property improperly received and its income since distribution if the distributee or claimant has the property. If the distributee or claimant does not have the property, then the distributee or claimant is liable to return the value as of the date of disposition of the property improperly received and its income and gain received by that person. [L 1996, c 288, pt of §1]
Section: Previous 560-3-902 560-3-903 560-3-904 560-3-905 560-3-906 560-3-907 560-3-908 560-3-909 560-3-910 560-3-911 560-3-912 560-3-913 560-3-914 560-3-915 560-3-916 NextLast modified: October 27, 2016