Public-domain · open source
OpenJurist

Utah Code § 75A-1-210

Deposits in name of several trustees

Renumbered and Amended by Chapter 364, 2024 General Session

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.

Official source: Utah State Legislature. Reproduced from public-domain Utah statutes; confirm against the official source for the current text. Not legal advice.