§ 26-2A-151 — Persons Dealing with Conservators; Protection

Alabama § 26-2A-151

• Jurisdiction: Alabama
• Title 26: Infants and Incompetents
• Ch. 2A: Alabama Uniform Guardianship and Protective Proceedings Act
• Art. 2: Protection of Persons Under Disability and Their Property
• Div. 3: Protection of Property of Persons Under Disability and Minors

Text

(a) A person who in good faith either assists or deals with a conservator for value in any transaction other than those requiring a court order as provided in Section 26-2A-136 is protected as if the conservator properly exercised the power. The fact that a person knowingly deals with a conservator does not alone require the person to inquire into the existence of a power or the propriety of its exercise, but restrictions on powers of conservators which are endorsed on letters as provided in Section 26-2A-154 are effective as to third persons. A person is not bound to see to the proper application of estate assets paid or delivered to a conservator.
(b) The protection expressed in this section extends to any procedural irregularity or jurisdictional defect occurring in proceedings leading to the issuance of letters and is not a substitution for protection provided by comparable provisions of the law relating to commercial transactions or to simplify transfers of securities by fiduciaries.

Legislative History

(Acts 1987, No. 87-590, p. 975, §2-322.)