Liability of Third Person for Dealings With Person Purporting to Act in Capacity of Custodian

  1. Law
  2. Georgia Code
  3. Property
  4. Acquisition and Loss of Property
  5. The Georgia Transfers to Minors Act
  6. Liability of Third Person for Dealings With Person Purporting to Act in Capacity of Custodian

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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 this article for, any act of the purported custodian;
  3. The validity or propriety under this article 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 minor delivered to the purported custodian.

(Code 1981, §44-5-126, enacted by Ga. L. 1990, p. 667, § 1.)

RESEARCH REFERENCES

U.L.A.

- Uniform Transfers to Minors Act (U.L.A.) § 16.


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