Every fiduciary shall keep fiduciary property separate and distinct from such fiduciary's own property and shall not invest or deposit the same with any person, association, or corporation in such fiduciary's own name. Except as provided in this part 5, every fiduciary shall keep the property of each fiduciary account separate and distinct from the property of every other fiduciary account, and all transactions shall be conducted in such fiduciary's name as fiduciary.
Source: L. 77: Entire part R&RE, p. 826, § 1, effective July 1.
Editor's note: This section is similar to former § 15-1-501 as it existed prior to 1977.