§ 21-316. Exemption of third person from liability.

Current through October 23, 2012

A third person, in good faith and without a 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 of the third person, shall not be responsible for determining the following:

(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.

                
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(Mar. 12, 1986, D.C. Law 6-87, § 2(a), 33 DCR 278; Mar. 24, 1998, D.C. Law 12-81, § 14(c), 45 DCR 745.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 21-316.

Legislative History of Laws

For legislative history of D.C. Law 6-87, see Historical and Statutory Notes following § 21-301.

For legislative history of D.C. Law 12-81, see Historical and Statutory Notes following § 21-302.

Uniform Law

This section is based upon § 16 of the Uniform Transfers to Minors Act. See 8B Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.