§ 33A-16. Exemption of third person from liability. - North Carolina Statutes

§33A‑16.  Exemption of third person from liability.

A third person in good faithand without court order may act on the instructions of or otherwise deal withany person purporting to make a transfer or purporting to act in the capacityof a custodian and, in the absence of knowledge, is not responsible fordetermining:

(1)        The validity of thepurported custodian's designation;

(2)        The propriety of, orthe authority under this Chapter for, any act of the purported custodian;

(3)        The validity orpropriety under this Chapter of any instrument or instructions executed orgiven either by the person purporting to make a transfer or by the purportedcustodian; or

(4)        The propriety of theapplication of any property of the minor delivered to the purported custodian. (1987,c. 563, s. 2.)