Arizona § 14-5423 - Persons dealing with conservators; protection

§ 14-5423. Persons dealing with conservators; protection

A. A person who in good faith either assists or deals with a conservator, on the basis of a copy of letters certified by or under the direction of the court or an officer thereof within sixty days of the transaction, is protected as if the conservator properly exercised the conservator's power and even though the authority of that person as conservator has been terminated. The fact that a person knowingly deals with a conservator does not alone require the person to inquire into the existence of a power, the propriety of its exercise, or the current authority of the conservator, except that restrictions on powers of conservators which are endorsed on letters as provided in section 14-5426 are effective as to third persons. A person is not bound to see to 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 that occurred in proceedings leading to the issuance of letters. The protection expressed in this section is not a substitution for that provided by comparable provisions of the laws relating to commercial transactions and laws simplifying transfers of securities by fiduciaries.