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

Colorado Statutes

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

Colorado·Title 11 Financial·Art. Colorado Uniform Transfers to Minors Act

(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.

Free access — add to your briefcase to read the full text and ask questions with AI

(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.

Colorado § 11-50-117 (Exemption of third person from liability) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.