A third person in good faith and without a court order may act on instructions of, or otherwise deal with, a person purporting to make a transfer as, or purporting to act in the capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining
(1) the validity of the purported custodial trustee's designation;
(2) the propriety of, or the authority under this chapter for, an action of the purported custodial trustee;
(3) the validity or propriety of an instrument executed or instruction given under this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee; or
(4) the propriety of the application of property vested in the purported custodial trustee.
Section: Previous 13.60.030 13.60.040 13.60.050 13.60.060 13.60.070 13.60.080 13.60.090 13.60.100 13.60.110 13.60.120 13.60.130 13.60.140 13.60.150 13.60.160 13.60.170 NextLast modified: November 15, 2016