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2018 Louisiana Laws
Revised Statutes
TITLE 9 - Civil Code-Ancillaries
RS 9:3810 - Check upon deposit in name of two or more trustees; duties of bank and holder
Universal Citation: LA Rev Stat § 9:3810 (2018)
§3810. Check upon deposit in name of two or more trustees; duties of bank and holder
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 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.
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