§ 33-9-16 - Effect of borrowing by executor or administrator.
SECTION 33-9-16
§ 33-9-16 Effect of borrowing by executoror administrator. – Any borrowing authorized as provided in § 33-9-14 shall create a debt ofthe estate, and any mortgage, pledge, or lien authorized as provided in §33-9-14 shall be, to the extent and in the manner authorized, binding upon theproperty so mortgaged; provided, however that nothing contained in §§33-9-14 – 33-9-17 shall be held to affect the right of the executor oradministrator subsequently to contest the validity of any claim against theestate for the payment of which the borrowing was authorized. And notransaction, and no note, bond, covenant, or other obligation executed orentered into as a part of or as an incident to the transaction shall bind theexecutor or administrator personally, insofar as the transaction, note, bond,covenant, or other obligation is made or entered into by the executor oradministrator in his or her representative capacity.