§ 16 — Exemption of third person from liability

Section 16. 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, shall not be 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 or 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.