GroundRules
D.C. Code § 29-1205.04: Protection of person dealing with trustee.
Where this section sits in the code
- Title 29. Business Organizations. [Enacted title]
- Chapter 12. Statutory Trusts.
- Subchapter V. Trustees and Trust Management.
(a)
A person that in good faith assists a trustee, or in good faith and for value deals with a trustee, without knowledge that the trustee is exceeding or improperly exercising the trustee’s power, shall be protected from liability as if the trustee properly exercised the power.
(b)
A person that in good faith deals with a trustee need not inquire into the extent of a trustee’s power or the propriety of the exercise of the power.
(c)
A person that in good faith delivers property to a trustee need not ensure its proper use.
(d)
A person that in good faith and without knowledge that the trusteeship has terminated assists a former trustee as if the former trustee were still a trustee, or in good faith and for value deals with a former trustee as if the former trustee were still a trustee shall be protected from liability as if the former trustee were still a trustee.
Collected 2026-08-29T05:44:07Z. Source file · JSON