A third person acting 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, without knowledge, is not responsible for determining: 1. Whether the person designated as custodian or purporting to act as a custodian has been duly designated; 2. The propriety of, or the authority under this chapter for, any act of the purported custodian; 3. The validity or propriety under this chapter of any instrument or instructions executed or given by a 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.
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