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, shall not be responsible for determining: (1) the validity of the purported custodian's designation; (2) the propriety of, or the authority under this subchapter for, any act of the purported custodian; (3) the validity or propriety under this subchapter 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. Acts 1985, No. 476, § 16; A.S.A. 1947, § 50-949 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, shall not be responsible for determining: (1) the validity of the purported custodian's designation; (2) the propriety of, or the authority under this subchapter for, any act of the purported custodian; (3) the validity or propriety under this subchapter 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. Acts 1985, No. 476, § 16; A.S.A. 1947, § 50-949 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, shall not be responsible for determining: (1) the validity of the purported custodian's designation; (2) the propriety of, or the authority under this subchapter for, any act of the purported custodian; (3) the validity or propriety under this subchapter 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. Acts 1985, No. 476, § 16; A.S.A. 1947, § 50-949 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, shall not be responsible for determining: (1) the validity of the purported custodian's designation; (2) the propriety of, or the authority under this subchapter for, any act of the purported custodian; (3) the validity or propriety under this subchapter 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. Acts 1985, No. 476, § 16; A.S.A. 1947, § 50-949
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