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2022 New York Laws
EPT - Estates, Powers and Trusts
Article 7 - Trusts
Part 6 - Uniform Transfers to Minors Act
7-6.16 - Exemption of Third Person From Liability
Universal Citation: NY Est Pow & Trusts L § 7-6.16 (2022)
§ 7-6.16 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:(a) the validity of the purported custodian's designation;
(b) the propriety of, or the authority under this part for, any act of the purported custodian;
(c) the validity or propriety under this part of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or
(d) the propriety of the application of any property of the minor delivered to the purported custodian.
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