Kentucky Statutes 385.162 – 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 KRS § 385.032 to KRS § 385.222 for, any act of the purported custodian;
(3) The validity or propriety under KRS § 385.032 to KRS § 385.222 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.
Effective: July 15, 1986
History: Created 1986 Ky. Acts ch. 182, sec. 16, effective July 15, 1986.
(1) The validity of the purported custodian’s designation;
(2) The propriety of, or the authority under KRS § 385.032 to KRS § 385.222 for, any act of the purported custodian;
(3) The validity or propriety under KRS § 385.032 to KRS § 385.222 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.
Effective: July 15, 1986
History: Created 1986 Ky. Acts ch. 182, sec. 16, effective July 15, 1986.