Third person’s duties in dealing with custodian.

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(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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