§44-14-5 Validation of good faith acts by substitute trustees.
§44-14-5. Validation of good faith acts by substitute trustees.
This section is enacted to prevent or redress problems which might be caused by the improper appointment of substitute trustees under a trust deed to secure a debt or obligation who in good faith performed their acts as trustees in substantial compliance with the provisions of article one, chapter thirty-eight of this code. With respect to acts performed by such trustees in good faith and in substantial compliance with the statutory law of this state and the terms of their trust deed the otherwise lawful acts of a substitute trustee performed prior to the effective date of this section shall be conclusively presumed to be valid, notwithstanding that the method of appointment of such trustee did not comply with the provisions of a prior enactment of this article.