Delaware § 4516 Exemption of third person from liability

Delaware Statutes

§ 4516 — Exemption of third person from liability

Delaware·Title 12·Part Fiduciary Relations·Ch. 45 DELAWARE 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 of 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 of 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.

Delaware § 4516 (Exemption of third person from liability) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.