2005 Idaho Code - 68-307 — DEPOSIT IN NAME OF FIDUCIARY AS SUCH

                                  TITLE  68
                            TRUSTS AND FIDUCIARIES
                                  CHAPTER 3
                           UNIFORM FIDUCIARIES LAW
    68-307.  DEPOSIT IN NAME OF FIDUCIARY AS SUCH. If a deposit is made in a
bank to the credit of a fiduciary as such, the bank is authorized to pay the
amount of the deposit or any part thereof upon the check of the fiduciary,
signed with the name in which such deposit is entered, without being liable to
the principal, unless the bank pays the check with actual knowledge that the
fiduciary is committing a breach of his 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, however, 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 his obligation as fiduciary in drawing or delivering the
check.

Disclaimer: These codes may not be the most recent version. Idaho may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.