Section 4516 - Exemption of third person from liabilityA 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 this chapter for any act of the purported custodian;(3) The validity of 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(4) The propriety of the application of any property of the minor delivered to the purported custodian. 70 Del. Laws, c. 393, § 1.;