(760 ILCS 20/18)
(from Ch. 110 1/2, par. 268)
Liability to Third Persons.
(a) 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, whether or not
the custodian or the minor is personally liable therefor.
(b) 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.
(c) 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.
(Source: P.A. 84-915.)