§ 15-14-422 — Protected person's interest inalienable

(1) Except as otherwise
provided in subsections (3) and (4) of this section, the interest of a protected person
in property vested in a conservator is not transferable or assignable by the
protected person. An attempted transfer or assignment by the protected person,
although ineffective to affect property rights, may give rise to a claim against the
protected person for restitution or damages that, subject to presentation and
allowance, may be satisfied as provided in section 15-14-429.

(2) Property vested in a conservator by appointment and the interest of the
protected person in that property are not subject to levy, garnishment, or similar
process for claims against the protected person unless allowed under section 15-14-429.

(3) A person without knowledge of the conservatorship who in good faith and
for security or substantially equivalent value receives delivery from a protected
person of tangible personal property of a type normally transferred by delivery of
possession, is protected as if the protected person or transferee had valid title.

(4) A third party who deals with the protected person with respect to
property vested in a conservator is entitled to any protection provided in other law.

Legislative History

Source: L. 2000: Entire part R&RE, p. 1822, � 1, effective January 1, 2001 (see � 15-17-103).