Section 20Part 1 — Trusts Act
Power of trustees to give receipts
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The receipt in writing of a trustee for any money, securities or other personal property or effects payable, transferable or deliverable to that person under any trust or power shall be a sufficient discharge to the person paying, transferring or delivering the same and shall effectually exonerate that person from seeing to the application or being answerable for any loss or misapplication thereof.
This section applies notwithstanding anything to the contrary in the instrument, if any, creating the trust.