(a) A person who in good faith either assists or deals with a conservator for value in any transaction other than those requiring a court order as provided in section 21-2055(c) is protected as if the conservator properly exercised the power. The fact that a person knowingly deals with a conservator does not alone require the person to inquire into the existence of power or the propriety of its exercise, but restrictions on powers of conservators that are endorsed on letters as provided in section 21-2072 are effective as to third persons. A person is not bound to see the proper application of estate assets paid or delivered to a conservator.
(b) The protection expressed in this section extends to any procedural irregularity or jurisdictional defect occurring in proceedings leading to the issuance of letters and is not a substitute for protection provided by comparable provisions of the law relating to commercial transactions or to simplifying transfers of securities by fiduciaries.
CREDIT(S)
(Feb. 28, 1987, D.C. Law 6-204, § 2(a), 34 DCR 632.)
HISTORICAL AND STATUTORY NOTES
Prior Codifications
1981 Ed., § 21-2069.
Legislative History of Laws
For legislative history of D.C. Law 6-204, see Historical and Statutory Notes following § 21-2001.
Uniform Law
This section is based upon § 2-322 of the Uniform Guardianship and Protective Proceedings Act (1982 Act). See 8A Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.