Section 75A-1-210 - Deposits in name of several trusteesWhen a deposit is made in a bank in the name of two or more persons as trustees and a check is drawn upon the trust account by a trustee authorized by another trustee to draw checks upon the trust account:
(1) the payee or bank is not bound to inquire whether the deposit is a breach of trust to authorize a trustee to draw checks upon the trust account; and(2) the payee or bank is not liable unless the circumstances are such that the action of the payee or bank amounts to bad faith.Renumbered from § 22-1-10 and amended by Chapter 364, 2024 General Session ,§ 23, eff. 9/1/2024.