TITLE 68

TRUSTS AND FIDUCIARIES

CHAPTER 3

UNIFORM FIDUCIARIES LAW

68-301.  Definition of terms. In this chapter unless the context or subject-matter otherwise requires:

1.  "Bank" includes any person or association of persons, whether incorporated or not, carrying on the business of banking.

"Fiduciary" includes a trustee under any trust, expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, partner, agent, officer of a corporation, public or private, public officer, or any other person acting in a fiduciary capacity for any person, trust or estate.

"Person" includes a corporation, partnership, or other association, or two (2) or more persons having a joint or common interest.

"Principal" includes any person to whom a fiduciary as such owes an obligation.

2.  A thing is done "in good faith" within the meaning of this chapter when it is in fact done honestly, whether it be done negligently or not.

History:

[(68-301) 1925, ch. 217, sec. 1, p. 393; I.C.A., sec. 66-301.]