New York Banking Law Section 9 - Checks drawn against corporate funds or payable to corporations; no notice of defense against or claim to check.

 9.  Checks drawn against corporate funds or payable to corporations;
  no notice of defense against or claim to check. Notwithstanding  section
  3-304  of  the  uniform  commercial  code,  the drawing of a check by an
  officer or agent of a corporation against the account of, or in the name
  of the corporation, whether the check is drawn against an account in the
  name of the corporation, or in the name of such officer or agent of  the
  corporation  as such, to himself as payee, or the endorsement of a check
  in the name of the corporation, to himself as endorsee,  and  in  either
  case  the  cashing of such check or the deposit thereof to the credit of
  his personal account, shall not constitute notice to a  private  banker,
  banking  organization  or branch of a foreign banking corporation of any
  defense against or claim to  the  check  on  the  part  of  any  person,
  provided  that the private banker, banking organization or branch has on
  file an authorization from the corporation showing that the  officer  or
  agent  is  authorized on behalf of the corporation to perform any of the
  above acts for unlimited or limited amounts, and that the amount of  the
  check  does  not exceed the maximum limits of the amount so contained in
  the authorization so  filed  for  the  officer  or  agent  when  such  a
  limitation is contained therein.

Last modified: February 3, 2019