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Ohio · Through 2007-01-01 (House Bill 416 - 126th General Assembly)

Ohio Rev. Code § 5815.07: Check drawn by fiduciary upon account of his principal - liability of bank.

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Where this section sits in the code
  1. Title 58 Trusts
  2. Chapter 5815 Miscellaneous Provisions

If a check is drawn upon the principal's account by a fiduciary who is empowered to do so, the bank may pay the check without being liable to the principal, unless the bank pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in drawing the check or with knowledge of such facts that its action in paying the check amounts to bad faith.

If such a check is payable to the drawee bank and is delivered to it in payment of or as security for a personal debt of the fiduciary to it, the bank is liable to the principal if the fiduciary in fact commits a breach of the obligation as fiduciary in drawing or delivering the check.

Collected 2026-09-14T19:24:42Z. Source file · JSON

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