SECTION 736.1016. Protection of person dealing with trustee.

Latest version.

1(1) 2A person other than a beneficiary who in good faith assists a trustee or who in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s powers, is protected from liability as if the trustee properly exercised the power.
52(2) 53A person other than a beneficiary who in good faith deals with a trustee is not required to inquire into the extent of the trustee’s powers or the propriety of their exercise.
85(3) 86A person who in good faith delivers assets to a trustee need not ensure their proper application.
103(4) 104A person other than a beneficiary who in good faith assists a former trustee or who in good faith and for value deals with a former trustee, without knowledge that the trusteeship has terminated, is protected from liability as if the former trustee were still a trustee.
151(5) 152Comparable protective provisions of other laws relating to commercial transactions or transfer of securities by fiduciaries prevail over the protection provided by this section.

History.-s. 10, ch. 2006-217.

Bills Cite this Section:

None

Cited by Court Cases:

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