New York Estates, Powers & Trusts Law Section 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.

Last modified: February 3, 2019