New Jersey § 3a:41-9
Full text of New Jersey New Jersey Statutes § 3a:41-9, with citation guidance and answers to common questions.
§ 3a:41-9.
If a fiduciary makes a deposit in a bank to his personal credit of checks drawn by
him upon an account in his own name as fiduciary, or of checks payable to him as fiduciary,
or of checks drawn by him upon an account in the name of his principal, if he is empowered
to draw thereon, or of checks payable to his principal and indorsed by him, if he
is empowered to indorse such checks, or if he otherwise makes a deposit of funds held
by him as fiduciary, the bank receiving such deposit is not bound to inquire whether
the fiduciary is committing thereby a breach of his obligation as fiduciary; and
the bank is authorized to pay the amount of the deposit or any part thereof upon the
personal check of the fiduciary without being liable to the principal, unless the
bank receives the deposit or pays the check with actual knowledge that the fiduciary
is committing a breach of his obligation as fiduciary in making such deposit or in
drawing such check, or with knowledge of such facts that its action in receiving the
deposit or paying the check amounts to bad faith.
Frequently Asked Questions About New Jersey § 3a:41-9
What does New Jersey Statutes § 3a:41-9 cover?
Section 3a:41-9 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 3a:41-9?
A common citation format is "New Jersey Statutes § 3a:41-9" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 3a:41-9 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.