Section 19-1111 - Exemption of third person from liabilityA 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:
(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; or(4) The propriety of the application of property vested in the purported custodial trustee.July 23, 2002, D.C. Law 14-177, § 2(b), 49 DCR 5092.