Exemption of Third Person From Liability

  1. Law
  2. Tennessee Code
  3. Fiduciaries and Trust Estates
  4. Tennessee Uniform Transfers to Minors Act
  5. Exemption of Third Person From Liability

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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 chapter for, any act of the purported custodian;
  3. The validity or propriety under this chapter 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.


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