La. Rev. Stat. § 9:2260.11
This is the official text of La. Rev. Stat. § 9:2260.11, part of Louisiana’s Rev. Stat — part of the compiled statutory law of Louisiana, published by the state as "Rev. Stat." Browse the sections below, each linked to its official government source.
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Exemption of third person from liability
Official statutory text
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 capacity of, a custodial trustee. In the absence of knowledge to the contrary, the third person is not responsible for determining any of the following:
(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.
(4) The propriety of the application of property vested in the purported custodial trustee.
Acts 1995, No. 655, §1, eff. Jan. 1, 1998.
(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.
(4) The propriety of the application of property vested in the purported custodial trustee.
Acts 1995, No. 655, §1, eff. Jan. 1, 1998.
Status: in_force · Read it on the official government site
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