Guam § 12106 - Exception of Third Persons from Liability.
Full text of Guam Guam Code Annotated § 12106 — Exception of Third Persons from Liability., with citation guidance and answers to common questions.
§ 12106. Exception of Third Persons from Liability.
No issuer, transfer agent, bank, life insurance company, broker or other
person or financial institution acting on the instructions of or otherwise
dealing with any person purporting to act as a donor or in the capacity of a
custodian is responsible for determining whether the person designated as
custodian by the purported donor or by the custodian or purporting to act as
a custodian has been duly designated or whether any purchase, sale or
transfer to or by or any other act of any person purporting to act in the
capacity of custodian is in accordance with or authorized by this Chapter or
is obliged to inquire into the validity or propriety under this Chapter of any
instrument or instructions executed or given by a person purporting to act as
a donor or in the capacity of a custodian, or is bound to see to the
application by any person purporting to act in the capacity of a custodian of
any money or other property paid or delivered to him. No issuer, transfer
agent, bank, life insurance company, broker or other person or financial
institution acting on any instrument of designation of a successor custodian,
executed as provided in § 12107(a) by a minor to whom a gift has been
made in a manner prescribed in this Chapter and who has attained the age of
fourteen years, is responsible for determining whether the person designated
by the minor as successor custodian has been duly designated, or is obliged
to inquire into the validity or propriety under this Chapter of the instrument
of designation.
Source: official Guam text · Last verified 2026-08-27
Frequently Asked Questions About Guam § 12106
What does Guam Code Annotated § 12106 cover?
Section 12106 ("Exception of Third Persons from Liability.") is part of the Guam Code Annotated, the codified statutory law of Guam. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Guam § 12106?
A common citation format is "Guam Code Annotated § 12106" (Guam). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Guam law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Guam official source linked on this page or consult a licensed Guam attorney.
How does Guam § 12106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Guam can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Guam.