Oregon Statutes - Chapter 126 - Property Held for the Benefit of Minors; Uniform Transfers to Minors Act - Section 126.857 - Third person’s duties in dealing with custodian.

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:

(1) The validity of the purported custodian’s designation;

(2) The propriety of, or the authority under ORS 126.805 to 126.886 for, any act of the purported custodian;

(3) The validity or propriety under ORS 126.805 to 126.886 of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or

(4) The propriety of the application of any property of the beneficiary delivered to the purported custodian. [1985 c.665 §17; 2005 c.349 §11]

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Last modified: August 7, 2008