(760 ILCS 65/10) (from Ch. 17, par. 2010)
Sec. 10.
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.
(Source: Laws 1931, p. 676.)
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