{"data":{"id":"us-mn/minn.-stat.-501c.1012","jurisdiction":"us-mn","citation":"Minn. Stat. § 501C.1012","heading":"PROTECTION OF PERSON DEALING WITH TRUSTEE.","body":"(a) A 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.\n(b) A 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.\n(c) A person who in good faith delivers assets to a trustee need not ensure their proper application.\n(d) A 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.\n(e) Nothing in this section shall limit the protection provided by other laws relating to commercial trust accounts or transfers of securities by fiduciaries.","path":["PROPERTY AND PROPERTY INTERESTS","CHAPTER 501C. TRUSTS","LIABILITY OF TRUSTEES AND RIGHTS OF PERSON DEALING WITH TRUSTEE"],"source_url":"https://www.revisor.mn.gov/statutes/cite/501C.1012","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:48Z","sha256":"172e0de2b4d483193320f5a700939f1f172a38b34451d00c0c4c341f2d44efce","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-501c.1011","next":"us-mn/minn.-stat.-501c.1013"},"notice":"GroundRules: Original legal text. Not legal advice."}