Rhode Island § 18-13-11 § 18-13-11. Exemption of third person from liability.

Rhode Island Statutes

§ 18-13-11 — § 18-13-11. Exemption of third person from liability.

Rhode Island·Title 18 Fiduciaries·Ch. 18-13 Rhode Island Uniform Custodial Trust Act

§ 18-13-11. Exemption of third person from liability.
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 purporting to
            act in the incapacity of, a custodial trustee. In the absence of 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 chapter for, any action of the purported
            custodial trustee;
         
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§ 18-13-11. Exemption of third person from liability.

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 purporting to act in the incapacity of, a custodial trustee. In the absence of 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 chapter for, any action of the purported custodial trustee;

(3) The validity or propriety of an instrument executed or instruction given pursuant to this chapter 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.

Rhode Island § 18-13-11 (§ 18-13-11. Exemption of third person from liability.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.