31-52 - Exemption of third person from liability. - Virginia Statutes

§ 31-52. Exemption of third person from liability.

A third person may act in good faith and without court order on theinstruction of or otherwise deal with any person purporting to make atransfer or purporting to act in the capacity of a custodian and, in theabsence of knowledge, is not responsible for determining (i) the validity ofthe purported custodian's designation, (ii) the propriety of, or theauthority under this chapter for, any act of the purported custodian, (iii)the validity or propriety under this chapter of any instrument orinstructions executed or given either by the person purporting to make atransfer or by the purported custodian, or (iv) the propriety of theapplication of any property of the minor delivered to the purported custodian.

(1988, c. 516.)