Indiana Code 30-2-8.5-31. Exemption of third person from liability
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Sec. 31. A person in good faith and without court order may act on the instructions of or otherwise deal with a 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:
(2) the propriety of, or the authority under this chapter for, an act of the purported custodian;
(1) the validity of the purported custodian’s designation;
Terms Used In Indiana Code 30-2-8.5-31
- custodian: means a person designated as a custodian under section 24 of this chapter or a successor or substitute custodian designated under section 33 of this chapter. See Indiana Code 30-2-8.5-5
- minor: means an individual who is less than twenty-one (21) years of age. See Indiana Code 30-2-8.5-10
- person: means an individual, corporation, organization, or other legal entity. See Indiana Code 30-2-8.5-11
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- transfer: means a transaction that creates custodial property under section 24 of this chapter. See Indiana Code 30-2-8.5-14
(3) the validity or propriety under this chapter of an instrument or instruction executed or given by the person purporting to make a transfer or by the purported custodian, or both; or
(4) the propriety of the application of property of the minor delivered to the purported custodian.
As added by P.L.267-1989, SEC.2.