68-310. DEPOSIT IN NAMES OF TWO OR MORE TRUSTEES. When a deposit is made in a bank in the name of two (2) 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.
History:
[(68-310) 1925, ch. 217, sec. 10, p. 393; I.C.A., sec. 66-310.]
Structure Idaho Code
Title 68 - TRUSTS AND FIDUCIARIES
Chapter 3 - UNIFORM FIDUCIARIES LAW
Section 68-301 - DEFINITION OF TERMS.
Section 68-302 - APPLICATION OF PAYMENTS MADE TO FIDUCIARIES.
Section 68-304 - TRANSFER OF NEGOTIABLE INSTRUMENT BY FIDUCIARY.
Section 68-305 - CHECK DRAWN BY FIDUCIARY PAYABLE TO THIRD PERSON.
Section 68-306 - CHECK DRAWN BY AND PAYABLE TO FIDUCIARY.
Section 68-307 - DEPOSIT IN NAME OF FIDUCIARY AS SUCH.
Section 68-308 - DEPOSIT IN NAME OF PRINCIPAL.
Section 68-309 - DEPOSIT IN FIDUCIARY’S PERSONAL ACCOUNT.
Section 68-310 - DEPOSIT IN NAMES OF TWO OR MORE TRUSTEES.
Section 68-311 - CHAPTER NOT RETROACTIVE.
Section 68-312 - CASES NOT PROVIDED FOR IN CHAPTER.