N.J.S.A. 46:38A-38 — Exemption of third person from liability

46:38A-38. Exemption of third person from liability 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, is not responsible for determining: a. The validity of the purported custodian's designation; b. The propriety of, or the authority under this chapter for, any act of the purported custodian; c. The validity or propriety under this chapter of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or d. The propriety of the application of any property of the minor delivered to the purported custodian. L. 1987, c. 18, s. 1.

This is the verbatim text of N.J.S.A. 46:38A-38, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.