Section 26-2A-150 Sale, encumbrance, or transaction involving conflict of interest; voidable; exceptions. - Alabama Statutes

Section 26-2A-150

Sale, encumbrance, or transaction involving conflict of interest; voidable; exceptions.

Any sale or encumbrance to or purchase from a conservator, the spouse, agent, attorney of a conservator, any person related to the conservator by blood or marriage within the fourth degree, or any corporation, trust, or other organization in which the conservator has a substantial beneficial interest, or any other transaction involving the estate being administered by the conservator which is affected by a substantial conflict between fiduciary and personal interests is voidable unless the transaction is approved by the court after notice as directed by the court.

(Acts 1987, No. 87-590, p. 975, §2-321.)