N.Y. Estates, Powers & Trusts Law Section 7-6.16
Exemption of third person from liability

§ 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.

Source: Section 7-6.16 — Exemption of third person from liability, https://www.­nysenate.­gov/legislation/laws/EPT/7-6.­16 (updated Sep. 22, 2014; accessed May 4, 2024).

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Accessed:
May 4, 2024

Last modified:
Sep. 22, 2014

§ 7-6.16’s source at nysenate​.gov

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