Idaho § 68-907 - Nonliability of third persons
Full text of Idaho Idaho Statutes § 68-907 — Nonliability of third persons, with citation guidance and answers to common questions.
§ 68-907. Nonliability of third persons
(a) No person who participates in the acquisition, disposition, assignment or transfer of a security by or to a fiduciary, including a person who guarantees the signature of the fiduciary, (is liable for participation in any breach of fiduciary,) is liable for participation in any breach of fiduciary duty by reason of failure to inquire whether the transaction involves a breach unless it is shown that he acted with actual knowledge that the proceeds of the transaction were being or were to be used wrongfully for the individual benefit of the fiduciary or that the transaction was otherwise in breach of duty.
(b) If a corporation or transfer agent makes a transfer pursuant to an assignment by a fiduciary, a person who guaranteed the signature of the fiduciary is not liable on the guarantee to any person to whom the corporation or transfer agent by reason of this act incurs no liability.
(c) This section does not impose any liability upon the corporation or its transfer agent.
[68-907, added 1959, ch. 136, sec. 7, p. 294.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 68-907
What does Idaho Statutes § 68-907 cover?
Section 68-907 ("Nonliability of third persons") is part of the Idaho Statutes, the codified statutory law of Idaho. 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 Idaho § 68-907?
A common citation format is "Idaho Statutes § 68-907" (Idaho). 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 Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 68-907 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho 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 Idaho.