LegalFix
Sign In

Section 524.3-909 — Improper Distribution; Liability Of Distributee.

MN Stat § 524.3-909 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Unless the distribution or payment no longer can be questioned because of adjudication, estoppel, or limitation, a distributee of property improperly distributed or paid, or a claimant who was improperly paid, is liable to return the property improperly received and its income since distribution if the distributee or claimant has the property. A distributee or claimant who does not have the property is liable to return the value as of the date of disposition of the property improperly received and any income and gain received.

History: 1974 c 442 art 3 s 524.3-909; 1986 c 444

Previous Section
Section 524.3-908 — Distribution; Right Or Title Of Distributee.
Next Section
Section 524.3-910 — Purchasers From Distributees Protected.