Arizona Laws 14-9111. Exemption of third person from liability
A third person in good faith and without a court order may act on the instructions of or otherwise deal with a person who is purporting to make a transfer as or to act in the capacity of a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining:
Terms Used In Arizona Laws 14-9111
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Application: means a written request to the registrar for an order of informal probate or appointment under chapter 3, article 3 of this title. See Arizona Laws 14-1201
- Court: means the superior court. See Arizona Laws 14-1201
- Custodial trustee: means a person who is designated as trustee of a custodial trust under this chapter or a substitute or successor to the person designated. See Arizona Laws 14-9101
- Person: means an individual or an organization. See Arizona Laws 14-1201
- Property: includes both real and personal property. See Arizona Laws 1-215
- Trustee: A person or institution holding and administering property in trust.
- Trustee: includes an original, additional or successor trustee, whether or not appointed or confirmed by the court. See Arizona Laws 14-1201
1. The validity of the purported custodial trustee‘s designation.
2. The propriety of, or the authority under this chapter for, any action of the purported custodial trustee.
3. The validity or propriety of an instrument executed or instruction given pursuant to this chapter either by the person purporting to make a transfer or declaration or by the purported custodial trustee.
4. The propriety of the application of property vested in the purported custodial trustee.