CHAPTER 57A-4
BANK DEPOSITS AND COLLECTIONS
PART 1. GENERAL PROVISIONS AND DEFINITIONS.
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Short title.
57A-4-102
Applicability.
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Variation by agreement--Measure of damages--Certain action constituting ordinary
care.
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Definitions and index of definitions.
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"Bank"--"Collecting bank"--"Depositary bank"--"Intermediary bank"--"Payor bank"--"Presenting bank".
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Payable through or payable at bank--Collecting bank.
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Separate office of a bank.
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Time of receipt of items.
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Delays.
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Electronic presentment.
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Statute of limitations.
PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS.
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Status of collecting bank as agent and provisional status of credits--Applicability of
chapter--Item indorsed "pay any bank".
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Responsibility for collection or return--When action timely.
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Effect of instructions.
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Methods of sending and presenting--Sending directly to payor bank.
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Depositary bank holder of unendorsed item.
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Transfer between banks.
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Transfer warranties.
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Presentment warranties.
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Encoding and retention warranties.
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Security interest of collecting bank in items, accompanying documents, and proceeds.
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When bank gives value for purposes of holder in due course.
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Presentment by notice of item not payable by, through, or at a bank--Liability of
drawer or indorser.
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Medium and time of settlement by bank.
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Right of charge-back or refund; Liability of collecting bank; Return of item.
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Final payment of item by payor bank--When provisional debits and credits become
final--When certain credits become available for withdrawal.
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Insolvency and preference.
PART 3. COLLECTION OF ITEMS: PAYOR BANKS.
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Deferred posting--Recovery of payment by return of items--Time of dishonor--Return
of items by payor bank.
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Payor bank's responsibility for late return of item.
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When items subject to notice, stop-payment order, legal process, or setoff--Order in
which items may be charged or certified.
PART 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER.
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When bank may charge customer's account.
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Bank's liability to customer for wrongful dishonor--Time of determining
insufficiency of account.
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Customer's right to stop payment--Burden of proof of loss.
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Bank not obligated to pay check more than six months old.
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Death or incompetence of customer.
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Customer's duty to discover and report unauthorized signature or alteration.
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Payor bank's right to subrogation on improper payment.
PART 5. COLLECTION OF DOCUMENTARY DRAFTS.
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Handling of documentary drafts; Duty to send for presentment and to notify customer
of dishonor.
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Presentment of "on arrival" drafts.
57A-4-503
Responsibility of presenting bank for documents and goods--Report of reasons for
dishonor--Referee in case of need.
57A-4-504
Privilege of presenting bank to deal with goods--Security interest for expenses.