§ 18-13-11 - Exemption of third person from liability. - Rhode Island Statutes

SECTION 18-13-11

   § 18-13-11  Exemption of third person fromliability. – A third person in good faith and without a court order may act on instructionsof, or otherwise deal with, a person purporting to make a transfer as, orpurporting to act in the incapacity of, a custodial trustee. In the absence ofknowledge to the contrary, the third person is not responsible for determining:

   (1) The validity of the purported custodial trustee'sdesignation;

   (2) The propriety of, or the authority under this chapterfor, any action of the purported custodial trustee;

   (3) The validity or propriety of an instrument executed orinstruction given pursuant to this chapter either by the person purporting tomake a transfer or declaration or by the purported custodial trustee; or

   (4) The propriety of the application of property vested inthe purported custodial trustee.