Section 404.067

Title XXVI TRADE AND COMMERCE

Chapter 404

Effective - 28 Aug 1985   

  404.067.  Liability to third persons. — 1.  A claim based on:  (i) a contract entered into by a custodian acting in a custodial capacity, (ii) an obligation arising from the ownership or control of custodial property, or (iii) a tort committed during the custodianship, may be asserted against the custodial property by proceeding against the custodian in the custodial capacity.

  2.  A custodian is not personally liable:

  (1)  On a contract properly entered into in the custodial capacity unless the custodian fails to reveal that capacity and to identify the custodianship in the contract; or

  (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.  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.

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(L. 1985 S.B. 35, et al. § 9)