1. (a) A claim based on:

   1. (1) a contract entered into by a custodian acting in a custodial capacity;
   2. (2) an obligation arising from the ownership or control of custodial property, or both; or

   3. (3) a tort committed during the custodianship;

      may be asserted against the custodial property by proceeding against the custodian in the custodial capacity, whether or not the custodian or the minor is personally liable.

2. (b) A custodian is not personally liable:

   1. (1) on a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and fails to identify the custodianship in the contract; or
   2. (2) for an obligation arising from control of custodial property or for a tort committed during the custodianship unless the custodian is personally at fault.
3. (c) A minor is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the custodianship unless the minor is personally at fault.

As added by P.L.267-1989, SEC.2.