A bank dealing, whether to its own benefit or otherwise, with, through, or under any person who is or may be an officer, employee, member, agent, trustee, representative, or other fiduciary of another person shall not be deemed to have notice of nor be obligated to inquire as to any lack of or limitation upon the power of the person solely by reason either of:
(1) The fact that the person has executed in his or her representative capacity and is himself or herself the payee or endorsee of any check, bill, note, or other promise or order; or
(2) The use of descriptive words in connection with his or her deposit account or accounts, any transfer, certificate, or memorandum thereof, or in connection with any signature or endorsement of the person.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 2 - Financial Institutions And Securities
Chapter 48 - Organization and Operation
Subchapter 1 - General Provisions
§ 23-48-101. Banks subject to gross receipts and compensating use taxes
§ 23-48-102. Trust companies no longer subject to banking laws
§ 23-48-104. Dealings with agents, fiduciaries, etc
§ 23-48-105. Agents for affiliate — Definitions
§ 23-48-106. Exemption from posting bond in certain transactions