Alabama § 35-5A-17 Exemption of Third Person from Liability for Good Faith Dealings with Custodian

Alabama Statutes

§ 35-5A-17 — Exemption of Third Person from Liability for Good Faith Dealings with Custodian

Alabama·Title 35 Property·Ch. 5A Uniform Transfers to Minors Act

A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:

(1)The validity of the purported custodian’s designation;

(2)The propriety of, or the authority under this chapter for, any act of the purported custodian;

(3)The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or

(4)The propriety of the application of any property of the minor delivered to the purported custodian.

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A third person in good faith and without court order may act on the instructions of or otherwise deal with any person purporting to make a transfer or purporting to act in the capacity of a custodian and, in the absence of knowledge, is not responsible for determining:
(1) The validity of the purported custodian’s designation;
(2) The propriety of, or the authority under this chapter for, any act of the purported custodian;
(3) The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or
(4) The propriety of the application of any property of the minor delivered to the purported custodian.

Alabama § 35-5A-17 (Exemption of Third Person from Liability for Good Faith Dealings with Custodian) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.