23-48-104. Dealings with agents, fiduciaries, etc.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-48-104. Dealings with agents, fiduciaries, etc.

23-48-104. Dealings with agents, fiduciaries, etc. A bank dealing, whether to its own benefit or otherwise, with, through, or under any person who is or may be an officer, employee, member, agent, trustee, representative, or other fiduciary of another person shall not be deemed to have notice of nor be obligated to inquire as to any lack of or limitation upon the power of the person solely by reason either of: (1) The fact that the person has executed in his or her representative capacity and is himself or herself the payee or endorsee of any check, bill, note, or other promise or order; or (2) The use of descriptive words in connection with his or her deposit account or accounts, any transfer, certificate, or memorandum thereof, or in connection with any signature or endorsement of the person.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-48-104

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.