South Dakota Codified Laws
Chapter 10A - Uniform Transfers To Minors Act
Section 55-10A-18 - Exemption of third person from liability.

55-10A-18. 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, 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.

Source: SL 1986, ch 409, §18.

Structure South Dakota Codified Laws