Statutes > New Mexico Statutes > Chapter 46 - Fiduciaries and Trusts. > Article 1 - Fiduciary Obligations and Investments, 46-1-1 through 46-1-16. > Section 46-1-2 - Payment or transfer to fiduciary.

Section 46-1-2 - Payment or transfer to fiduciary.

46-1-2. [Payment or transfer to fiduciary.]

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.