New York Statutes
§ 359-L — Deposit of moneys by fiduciary
New York § 359-L
This text of New York § 359-L (Deposit of moneys by fiduciary) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.Y. General Business § 359-L (2026).
Text
§ 359-l. Deposit of moneys by fiduciary. If a fiduciary makes a\ndeposit in a bank to his personal credit of checks drawn by him upon an\naccount against which he is empowered to sign as a fiduciary, or of\nchecks drawn by him upon an account in the name of his principal if he\nis empowered to draw checks thereon, the bank receiving such deposit may\nassume, if acting in good faith and without actual knowledge to the\ncontrary, that the funds so deposited by the fiduciary are funds to\nwhich the fiduciary is personally entitled. Nothing contained in this\nsection shall be deemed to modify or otherwise affect any provision of\nsection ninety-five of the negotiable instruments law, nor to relieve\nsuch bank from any liability imposed upon it by law to the extent of any\npayment or amount w
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Nearby Sections
14
§ 359
Immunity§ 359-A
Appointment of deputies§ 359-C
Publication of state notices§ 359-E
Definitions§ 359-EE
Report of existence§ 359-EEE
Definitions§ 359-FFF
Chain distributor schemes prohibited§ 359-G
Violations and penalties§ 359-I
DefinitionsCite This Page — Counsel Stack
Bluebook (online)
New York § 359-L, Counsel Stack Legal Research, https://law.counselstack.com/statute/ny/GBS/359-L.