§560:5-423 Persons dealing with guardians of the property; protection. A person who in good faith either assists a guardian of the property or deals with the guardian for value in any transaction other than those requiring a court order as provided in sections 560:5-408 and 560:5-424, is protected as if the guardian of the property properly exercised the power. The fact that a person knowingly deals with a guardian of the property does not alone require the person to inquire into the existence of a power or the propriety of its exercise, except that restrictions on powers of guardians of the property which are endorsed on letters as provided in section 560:5-426 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 guardian of the property. The protection here expressed extends to instances in which some procedural irregularity or jurisdictional defect occurred in proceedings leading to the issuance of letters. The protection here expressed is not by substitution for that provided by comparable provisions of the laws relating to commercial transactions and laws simplifying transfers of securities by fiduciaries. [L 1976, c 200, pt of §1; gen ch 1985]