469.250. Payment or transfers to fiduciaries or at the direction of the fiduciary, effect on transferor. - Missouri Statutes

Payment or transfers to fiduciaries or at the direction of thefiduciary, effect on transferor.

469.250. A person who in good faith pays or transfers to a fiduciaryor to any other person as directed by a fiduciary any money or otherproperty which the fiduciary as such is authorized to receive, is notresponsible for the proper application thereof by the fiduciary, and anyright or title acquired from the fiduciary in consideration of such paymentor transfer is not invalid in consequence of a misapplication by thefiduciary.

(L. 1959 S.B. 121 § 2, A.L. 1991 S.B. 352, A.L. 2004 H.B. 1511)

Effective 7-10-91

*Transferred 2004; formerly 456.250

CROSS REFERENCE:

Transfer of corporate securities by fiduciary, rights of corporation or agency, RSMo 403.250 to 430.350