47-4301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank A. If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may […]
47-4302. Payor bank’s responsibility for late return of item A. If an item is presented to and received by a payor bank, the bank is accountable for the amount of: 1. A demand item, other than a documentary draft, whether properly payable or not, if the bank, in any case in which it is not […]
47-4303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified A. Any knowledge, notice or stop-payment order received by, legal process served upon or setoff exercised by a payor bank comes too late to terminate, suspend or modify the bank’s right or duty to […]
