Statute · New York Estates, Powers & Trusts Law

N.Y. Est. Powers & Trusts Law § 7-6.16 — Exemption of third person from liability

N.Y. Est. Powers & Trusts Law § 7-6.16

Type: Statute
Source: New York Estates, Powers & Trusts Law
Jurisdiction: New York
Current through: Nov 5, 2026 (NY Senate Open Legislation)

§ 7-6.16 Exemption of third person from liability

Citator

N.Y. Est. Powers & Trusts Law § 7-6.16 — Exemption of third person from liability is in force in the current edition of the Code, and nothing recorded condemns it.

§ 7-6.16 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 part for, any act of the purported custodian;

(c) the validity or propriety under this part 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.