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2022 Code of Alabama
Title 35 - Property.
Chapter 5A - Uniform Transfers to Minors Act.
Section 35-5A-9 - Receipt and Discharge for Transfer of Custodial Property.
Universal Citation: AL Code § 35-5A-9 (2022)
Section 35-5A-9
Receipt and discharge for transfer of custodial property.
A written acknowledgment of delivery by a custodian constitutes a sufficient receipt and discharge for custodial property transferred to the custodian pursuant to this chapter. An acknowledgment of delivery by a custodian, who believes in good faith that the transfer does not exceed the limitations on value prescribed in Sections 35-5A-7(c) and 35-5A-8(c), is a sufficient receipt and discharge in accordance with this section, even though the values may subsequently be determined to exceed the value limitations.
(Acts 1986, No. 86-453, p. 819, §8.)
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