LegalFix
Sign In

Section 18-13-11 Exemption of third person from liability.

RI Gen L § 18-13-11 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

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

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

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

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

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

History of Section. (P.L. 1988, ch. 623, § 1.)

Previous Section
Section 18-13-10 Determination of incapacity - Effect.
Next Section
Section 18-13-12 Liability to third person.