(a) A claim based on (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable therefor.
(b) A custodian is not personally liable:
(1) on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or
(2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.
(c) A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.
1985 c 221 s 17
Structure Minnesota Statutes
Chapters 524 - 532 — Probate; Property; Estates; Guardianships; Anatomical Gifts
Chapter 527 — Uniform Transfers To Minors Act
Section 527.22 — Scope And Jurisdiction.
Section 527.23 — Nomination Of Custodian.
Section 527.24 — Transfer By Gift Or Exercise Of Power Of Appointment.
Section 527.25 — Transfer Authorized By Will Or Trust.
Section 527.26 — Other Transfer By Fiduciary.
Section 527.27 — Transfer By Obligor.
Section 527.28 — Receipt For Custodial Property.
Section 527.30 — Single Custodianship.
Section 527.31 — Validity And Effect Of Transfer.
Section 527.32 — Care Of Custodial Property.
Section 527.33 — Powers Of Custodian.
Section 527.34 — Use Of Custodial Property.
Section 527.35 — Custodian's Expenses, Compensation, And Bond.
Section 527.36 — Exemption Of Third Person From Liability.
Section 527.37 — Liability To Third Persons.
Section 527.39 — Accounting By And Determination Of Liability Of Custodian.
Section 527.40 — Transfer Upon Termination Of Custodianship.
Section 527.405 — Conveyance By Custodian.
Section 527.41 — Applicability.
Section 527.42 — Effect On Existing Custodianships.