TITLE 68

TRUSTS AND FIDUCIARIES

CHAPTER 8

TRANSFERS TO MINORS

68-816.  Exemption of third person from liability. 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 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.

History:

[68-816, added 1984, ch. 152, sec. 2, p. 364.]