KRS § 385.162 Exemption of third person from liability.

385.162 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: (1) The validity of the purported custodian's designation; (2) The propriety of, or the authority under KRS 385.032 to 385.222 for, any act of the purported custodian; (3) The validity or propriety under KRS 385.032 to 385.222 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. Effective: July 15, 1986 History: Created 1986 Ky. Acts ch. 182, sec. 16, effective July 15, 1986.