Protection for persons dealing in good faith with guardian or
person acting under protective order; scope of protection
Sec. 1. (a) A person who in good faith deals with a guardian or
person acting under a protective order is:
(1) protected as if the guardian or person acting under a
protective order properly exercised the power; and
(2) not required to inquire into the existence of the power or the
propriety of its exercise except as to restrictions endorsed on
the letters.
(b) A person who deals with a guardian or person acting under a
protective order in good faith is not bound to see to the proper
application of amounts paid or property delivered to the guardian or
person.
(c) The protection expressed in this section:
(1) extends to any procedural irregularity or jurisdictional
defect occurring in proceedings under this article; and
(2) is not a substitution for but is in addition to any other
applicable law, including the laws relating to commercial
transactions and to simplifying transfers of securities by
fiduciaries.
As added by P.L.169-1988, SEC.1.
Last modified: May 27, 2006