14-7509. Deposit in names of two or more
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 any trustee or trustees authorized by the
other trustee or trustees 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 such trustee or trustees 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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