Section 404.610

Title XXVI TRADE AND COMMERCE

Chapter 404

Effective - 28 Aug 1986   

  404.610.  Liability to third persons. — 1.  A claim based on:  (i) a contract entered into by a personal 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 personal custodianship, may be asserted against the custodial property by proceeding against the personal custodian in the custodial capacity.

  2.  A personal custodian is not personally liable:

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

  (2)  For an obligation arising from control of custodial property or for a tort committed during the personal custodianship unless the personal custodian is personally at fault.

  3.  A beneficiary is not personally liable for an obligation arising from ownership of custodial property or for a tort committed during the personal custodianship unless the beneficiary is personally at fault.

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(L. 1986 S.B. 651 § 10)