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

Alabama Statutes

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

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

(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

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(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.

Alabama § 26-2A-151 (Persons Dealing with Conservators; Protection) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.