Tenn. Code Ann. § 35-2-103
This is the official text of Tenn. Code Ann. § 35-2-103, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Application of payments made to fiduciaries - Validity of right or title acquired
Official statutory text
A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary, and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary. Acts 1953, ch. 82, § 2 (Williams, § 9596.19); T.C.A. (orig. ed.), § 35-203.
A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary, and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Acts 1953, ch. 82, § 2 (Williams, § 9596.19); T.C.A. (orig. ed.), § 35-203.
A person who in good faith pays or transfers to a fiduciary any money or other property, which the fiduciary as such is authorized to receive, is not responsible for the proper application thereof by the fiduciary, and any right or title acquired from the fiduciary in consideration of such payment or transfer is not invalid in consequence of a misapplication by the fiduciary.
Acts 1953, ch. 82, § 2 (Williams, § 9596.19); T.C.A. (orig. ed.), § 35-203.
Status: in_force
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