Utah Statutes
§ 75A-1-210 — Deposits in name of several trustees.
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 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.
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Utah § 75A-1-210 (Deposits in name of several trustees.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Renumbered and Amended by Chapter 364, 2024 General Session
Nearby Sections
15
§ 75A-1-101
Definitions for title.§ 75A-1-102
Transition clause.§ 75A-1-201
Definitions for part.§ 75A-1-202
Transactions prior to May 12, 1925.§ 75A-1-203
Payments or transfers made to a fiduciary.§ 75A-1-206
Checks drawn by or payable to a fiduciary.§ 75A-1-207
Bank deposits in the name of a fiduciary.§ 75A-1-208
Checks drawn in name of a principal.§ 75A-1-209
Deposits in a fiduciary's personal account.§ 75A-1-210
Deposits in name of several trustees.§ 75A-2-101
Reserved.§ 75A-2-102
Definitions for chapter.§ 75A-2-103
Applicability.