Current through Pa Acts 2024-53, 2024-56 through 2024-111
Section 480.4 - Funds remaining intact; trustee's liability; failure of performance(a) The funds held in trust shall remain intact until delivery is made, services are performed or the death of the person for whose benefit the said contract was made, and upon submission of certified copy of death certificate or certification by the seller to the trustees that delivery of the personal property or performance of the services contracted for have been fully completed. Upon such certification having been made, the amount of money on deposit to the credit of that particular contract shall be paid to the person creating the trust fund. Any trustee accepting the merchandise trust fund under the provisions of this act may rely upon all such certifications herein required to be made and shall not be liable to anyone for such reliance.(b) If, for any reason, the seller, who has entered into a contract for the sale of personal property or services and has made the deposit herein required to be made, cannot or does not perform said contract promptly after the death of the person to be benefited and after request to do so, the family or next of kin of the deceased person, having provided for such personal property or services on behalf of the deceased person, shall be entitled to receive from the trustee the amount of money on deposit to the credit of that particular contract. An affidavit to that effect, delivered to the trustee, shall be sufficient authority to the trustee to make such a payment without any liability to the person making the deposit of such money into the trust fund or to any other person. Nothing herein contained shall relieve the seller under any such contract of his liability for nonperformance.1963, Aug. 14, P.L. 1059, § 4, eff. 1/1/1964.