Arkansas § 28-72-411 Exemption of third person from liability

Arkansas Statutes

§ 28-72-411 — Exemption of third person from liability

Arkansas § 28-72-411

Title28

This text of Arkansas § 28-72-411 (Exemption of third person from liability) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 28-72-411 (2026).

Text

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

(1)the validity of the purported custodial trustee's designation;

(2)the propriety of, or the authority under this subchapter for, any action of the purported custodial trustee;

(3)the validity or propriety of an instrument executed or instruction given pursuant to this subchapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or (4) the propriety of the application of property vested in the purported custodial trustee.

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A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining: (1) the validity of the purported custodial trustee's designation; (2) the propriety of, or the authority under this subchapter for, any action of the purported custodial trustee; (3) the validity or propriety of an instrument executed or instruction given pursuant to this subchapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or (4) the propriety of the application of property vested in the purported custodial trustee.