§ 17 — Exemption of Third Person from Liability

Illinois § 17

• Jurisdiction: Illinois
• Topic: RIGHTS AND REMEDIES
• Ch. 760: TRUSTS AND FIDUCIARIES
• Act 760 ILCS 20/: Illinois Uniform Transfers to Minors Act.

Text

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 Act for, any act of the purported custodian; (3) the validity or propriety under this Act 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.

Legislative History

(Source: P.A. 84-1129.)