Tenn. Code Ann. § 35-2-110
This is the official text of Tenn. Code Ann. § 35-2-110, part of Tennessee’s Code Ann — part of the compiled statutory law of Tennessee, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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Deposit in names of two (2)
Official statutory text
When a deposit is made in a bank or savings institution in the name of two (2) or more persons as fiduciaries and a check is drawn upon the fiduciary account by any fiduciary or fiduciaries authorized by the other fiduciary or fiduciaries to draw checks upon the fiduciary account, neither the payee nor other holder nor the bank or savings institution is bound to inquire whether it is a breach of trust to authorize such fiduciary or fiduciaries to draw checks upon the fiduciary account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank or savings institution amounts to bad faith. Acts 1953, ch. 82, § 10 (Williams, § 9596.27); T.C.A. (orig. ed.), § 35-211; Acts 1985, ch. 167, § 2; 1988, ch. 854, § 14.
When a deposit is made in a bank or savings institution in the name of two (2) or more persons as fiduciaries and a check is drawn upon the fiduciary account by any fiduciary or fiduciaries authorized by the other fiduciary or fiduciaries to draw checks upon the fiduciary account, neither the payee nor other holder nor the bank or savings institution is bound to inquire whether it is a breach of trust to authorize such fiduciary or fiduciaries to draw checks upon the fiduciary account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank or savings institution amounts to bad faith.
Acts 1953, ch. 82, § 10 (Williams, § 9596.27); T.C.A. (orig. ed.), § 35-211; Acts 1985, ch. 167, § 2; 1988, ch. 854, § 14.
When a deposit is made in a bank or savings institution in the name of two (2) or more persons as fiduciaries and a check is drawn upon the fiduciary account by any fiduciary or fiduciaries authorized by the other fiduciary or fiduciaries to draw checks upon the fiduciary account, neither the payee nor other holder nor the bank or savings institution is bound to inquire whether it is a breach of trust to authorize such fiduciary or fiduciaries to draw checks upon the fiduciary account, and is not liable unless the circumstances be such that the action of the payee or other holder or the bank or savings institution amounts to bad faith.
Acts 1953, ch. 82, § 10 (Williams, § 9596.27); T.C.A. (orig. ed.), § 35-211; Acts 1985, ch. 167, § 2; 1988, ch. 854, § 14.
Status: in_force
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