§ 18-7-17. 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, an 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 of Section.P.L. 1985, ch. 389, § 2.
Structure Rhode Island General Laws
Chapter 18-7 - Uniform Transfers to Minors Act
Section 18-7-1. - Short title.
Section 18-7-2. - Definitions.
Section 18-7-3. - Scope and jurisdiction.
Section 18-7-4. - Nomination of custodian.
Section 18-7-5. - Transfer by gift or exercise of power of appointment.
Section 18-7-6. - Transfer authorized by will or trust.
Section 18-7-7. - Other transfer by fiduciary.
Section 18-7-8. - Transfer by obligor.
Section 18-7-9. - Receipt for custodial property.
Section 18-7-11. - Single custodianship.
Section 18-7-12. - Validity and effect of transfer.
Section 18-7-13. - Care of custodial property.
Section 18-7-14. - Powers of custodian.
Section 18-7-15. - Use of custodial property.
Section 18-7-16. - Custodian’s expenses, compensation, and bond.
Section 18-7-17. - Exemption of third person from liability.
Section 18-7-18. - Liability to third person.
Section 18-7-20. - Accounting by and determination of liability of custodian.
Section 18-7-21. - Termination of custodianship.
Section 18-7-22. - Applicability.
Section 18-7-23. - Effect on existing custodianships.
Section 18-7-24. - Uniformity of application and construction.