(a) Claim against custodial property.--Any claim based on the following 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:
(1) A contract entered into by a custodian acting in a custodial capacity.
(2) An obligation arising from the ownership or control of custodial property.
(3) A tort committed during the custodianship.
(b) Limitation on custodian's liability.--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) Limitation on minor's personal liability.--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.
Cross References. Section 5317 is referred to in section 5319 of this title.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 53 - Pennsylvania Uniform Transfers to Minors Act
Section 5301 - Short title of chapter and definitions
Section 5302 - Scope and jurisdiction
Section 5303 - Nomination of custodian
Section 5304 - Transfer by gift or exercise of power of appointment
Section 5305 - Transfer authorized by will or trust
Section 5306 - Other transfer by fiduciary
Section 5307 - Transfer by obligor
Section 5308 - Receipt for custodial property
Section 5309 - Manner of creating custodial property and effecting transfer
Section 5310 - Single custodianship
Section 5311 - Validity and effect of transfer
Section 5312 - Care of custodial property
Section 5313 - Powers of custodian
Section 5314 - Use of custodial property
Section 5315 - Expenses, compensation and bond of custodian
Section 5316 - Exemption of third person from liability
Section 5317 - Liability to third persons
Section 5318 - Renunciation, resignation, death or removal of custodian
Section 5319 - Accounting by and determination of liability of custodian.
Section 5320 - Termination of custodianship
Section 5321 - Delay in transfer of custodial property after minor attains age 21