North Carolina § 33B-11 Third-party transactions

North Carolina Statutes

§ 33B-11 — Third-party transactions

North Carolina § 33B-11

Ch. 33BNorth Carolina Uniform Custodial Trust Act

This text of North Carolina § 33B-11 (Third-party transactions) is published on Counsel Stack Legal Research, covering North Carolina primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.C. Gen. Stat. § 33B-11 (2026).

Text

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or to act in the capacity of, a custodial trustee. In the absence of actual knowledge to the contrary, the third person is not responsible for determining:

(1)The validity of the purported custodial trustee's designation;

(2)The propriety of, or the authority under this act for, any action of the purported custodial trustee;

(3)The validity or propriety of an instrument executed or instruction given pursuant to this act either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or

(4)The propriety of the application of property vested in the purported custodial trustee. (1995, c. 486, s. 1.)

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

A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or to act in the capacity of, a custodial trustee. In the absence of actual knowledge to the contrary, the third person is not responsible for determining:
(1) The validity of the purported custodial trustee's designation;
(2) The propriety of, or the authority under this act for, any action of the purported custodial trustee;
(3) The validity or propriety of an instrument executed or instruction given pursuant to this act either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or
(4) The propriety of the application of property vested in the purported custodial trustee. (1995, c. 486, s. 1.)