New Jersey Revised Statutes § 46:38a-27 - Duty Of Care Owed By Custodian

46:38A-27. Duty of care owed by custodian
In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other statute restricting investments by fiduciaries. If a custodian has a special skill or expertise or is named custodian on the basis of representations of a special skill or expertise, the custodian shall use that skill or expertise. A custodian may, in the custodian's discretion and without liability to the minor or the minor's estate, retain any custodial property received from a transferor.

L. 1987, c. 18, s. 1.

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Last modified: October 11, 2016