Section 362.375 - Adverse claim to deposit - not effectual, when - contract presented by third party, powers of bank or trust company1. Notice to any bank or trust company doing business in this state of an adverse claim to a deposit standing on its books to the credit of any person shall not be effectual to cause the bank or trust company to recognize the adverse claimant unless the adverse claimant shall also either procure a restraining order, injunction or appropriate process against the bank or trust company from a court of competent jurisdiction in a cause therein instituted by him wherein the person to whose credit the deposit stands is made a party and served with summons, or shall execute to the bank or trust company, in form and with sureties acceptable to it, a bond indemnifying the bank or trust company from any and all liability, loss, damage, cost and expenses for and on account of the payment of the adverse claim or the dishonor of the check or other order of the person to whose credit the deposit stands on the books of the bank or trust company; provided, that this law shall not apply in any instance where the person to whose credit the deposit stands is a fiduciary for the adverse claimant, and the facts constituting the relationship, as also the fact showing reasonable cause of belief on the part of the claimant that the fiduciary is about to misappropriate the deposit, are made to appear by the affidavit of the claimant.2. Notwithstanding any law to the contrary, a bank or trust company is authorized to honor, dishonor or place conditions on any contract, agency agreement, or other document presented by a third party, including a customer of the bank or trust company, unless and until the bank or trust company agrees in writing to honor such document or documents pursuant to a contract or agreement. This subsection shall not apply to government documents, including any lawful court orders, which shall be honored as otherwise may be provided by law. No provision of this subsection shall change current law on the type, quality and coverage of insurance the creditor may require the debtors to purchase on the debtor's person or collateral.Prior revision: 1929 § 5387