A 3rd 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. 1. Designation The validity of the purported custodian's designation;

   [PL 1987, c. 734, §2 (NEW).]

2. 2. Authority to act The propriety of, or the authority under this Act for, any act of the purported custodian;

   [PL 1987, c. 734, §2 (NEW).]

3. 3. Validity of instruments The validity or propriety under this Act of any instrument or instructions executed or given either by the person purporting to make a transfer or by the purported custodian; or

   [PL 1987, c. 734, §2 (NEW).]

4. 4. Application of property The propriety of the application of any property of the minor delivered to the purported custodian.

   [PL 1987, c. 734, §2 (NEW).]

PL 1987, c. 734, §2 (NEW).