1. (a) A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary is authorized to receive, is not responsible for the proper application of the money or property by the fiduciary.
2. (b) A right or title to money or other property acquired from a fiduciary in consideration of payment or transfer is not invalid in consequence of a misapplication by the fiduciary.

Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.

Formerly Art. 37A, § 2.