§ 11-50-117 — Exemption of third person from liability

Colorado § 11-50-117

• Jurisdiction: Colorado
• Title 11: Financial
• Art.: Colorado Uniform Transfers to Minors Act

Text

(1) 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:

(a) The validity of the purported custodian's designation;

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

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

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

Legislative History

Source: L. 84: Entire article R&RE, p. 390, � 1, effective July 1.