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New Jersey Statutes, Title: 46, PROPERTY
Chapter 38a:
Section: 46:38a-27: Duty of care owed by custodian
In dealing with custodial property, a custodian shall observe the standard of care that would be observed by a prudent person dealing with property of another and is not limited by any other statute restricting investments by fiduciaries. If a custodian has a special skill or expertise or is named custodian on the basis of representations of a special skill or expertise, the custodian shall use that skill or expertise. A custodian may, in the custodian's discretion and without liability to the minor or the minor's estate, retain any custodial property received from a transferor.
L. 1987, c. 18, s. 1.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 46:38a-27 (if available):
Court decisions that cite this statute:
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