75-5-423 - Persons dealing with conservators -- Protection. - Utah Statutes

75-5-423. Persons dealing with conservators -- Protection.
A person who in good faith either assists a conservator or deals with him for value in anytransaction, other than those requiring a court order as provided in Section 75-5-408, is protectedas if the conservator properly exercised the power. The fact that a person knowingly deals with aconservator does not alone require the person to inquire into the existence of a power or thepropriety of its exercise, except that restrictions on powers of conservators which are endorsed onletters as provided in Section 75-5-426 are effective as to third persons. A person is not bound tosee to the proper application of estate assets paid or delivered to a conservator. The protectionhere expressed extends to instances in which some procedural irregularity or jurisdictional defectoccurred in proceedings leading to the issuance of letters. The protection here expressed is not bysubstitution for that provided by comparable provisions of the laws relating to commercialtransactions and laws simplifying transfers of securities by fiduciaries.

Enacted by Chapter 150, 1975 General Session