Utah Code § 75A-1-210: Deposits in name of several trustees.
Where this section sits in the code
- Title 75A Fiduciaries
- Chapter 75A-1 Fiduciaries
- Part 75A-1-2 Payments and Deposits by Fiduciaries
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.
Collected 2026-09-03T11:34:34Z. Source file · JSON