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 subchapter for, any act of the purported custodian;
(3) the validity or propriety under this subchapter 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.
Structure Arkansas Code
Chapter 26 - Rights Respecting Business and Property
Subchapter 2 - Arkansas Uniform Transfers to Minors Act
§ 9-26-202. Scope and jurisdiction
§ 9-26-203. Nomination of custodian
§ 9-26-204. Transfer by gift or exercise of power of appointment
§ 9-26-205. Transfer authorized by will or trust
§ 9-26-206. Other transfer by fiduciary
§ 9-26-207. Transfer by obligor
§ 9-26-208. Receipt for custodial property
§ 9-26-210. Single custodianship
§ 9-26-211. Validity and effect of transfer
§ 9-26-212. Care of custodial property
§ 9-26-213. Powers of custodian
§ 9-26-214. Use of custodial property
§ 9-26-215. Custodian's expenses — Compensation — Bond
§ 9-26-216. Exemption of a third person from liability
§ 9-26-217. Liability to third persons
§ 9-26-219. Accounting by and determination of liability of custodian
§ 9-26-220. Termination of custodianship
§ 9-26-222. Effect on existing custodianships