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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 5815.09 | Deposit in name of two or more trustees - checks.

Ohio Revised Code
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Title 58 Trusts
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Chapter 5815 Miscellaneous Provisions
 
Effective:
January 1, 2007
Latest Legislation:
House Bill 416 - 126th General Assembly
PDF:
Download Authenticated PDF
 

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 authorized to do so by the other, neither the payee or other holder nor the bank is bound to inquire whether it is a breach of trust to authorize the trustee to draw checks upon the trust account and neither is liable unless the circumstances are such that the action of the payee or other holder or the bank amounts to bad faith.

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