District of Columbia § 21-1709 Deposit in names of two or more trustees.

District of Columbia Statutes

§ 21-1709 — Deposit in names of two or more trustees.

District of Columbia § 21-1709

Title 21Fiduciary Relations and Persons with Mental Illness. [Enacted title]

Ch. 17General Fiduciary Relations.

Subch. IUniform Fiduciaries Act.

This text of District of Columbia § 21-1709 (Deposit in names of two or more trustees.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 21-1709 (2026).

Text

When 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 any trustee authorized by the others to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize the trustee to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith.

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When 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 any trustee authorized by the others to draw checks upon the trust account, neither the payee nor other holder nor the bank is bound to inquire whether it is a breach of trust to authorize the trustee to draw checks upon the trust account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank amounts to bad faith.