30-3-418. Repealed
30-3-418. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-418, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-418.
30-3-419. Conversion of instrument
30-3-419. Conversion of instrument. (1) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if the instrument lacks an indorsement necessary for negotiation and it is purchased or taken for collection or the drawee takes the instrument and makes payment to a person not entitled to receive payment. An […]
30-3-420. Employer responsibility for fraudulent indorsement by employee
30-3-420. Employer responsibility for fraudulent indorsement by employee. (1) This section applies to fraudulent indorsements of instruments with respect to which an employer has entrusted an employee with responsibility as part of the employee’s duties. The following definitions apply to this section: (a) ”Employee” includes, in addition to an employee of an employer, an independent contractor and […]
30-3-421. Refusal to pay cashier’s checks, teller’s checks, and certified checks
30-3-421. Refusal to pay cashier’s checks, teller’s checks, and certified checks. (1) In this section, “obligated bank” means the acceptor of a certified check or the issuer of a cashier’s check or teller’s check bought from the issuer. (2) If the obligated bank wrongfully refuses to pay a cashier’s check or certified check, stops payment of a […]
30-3-407. Alteration
30-3-407. Alteration. (1) “Alteration” means: (a) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party to the instrument; or (b) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of any party to the instrument. (2) Except as provided in subsection […]
30-3-408. Repealed
30-3-408. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-408, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-408.
30-3-409. Drawee not liable on unaccepted draft
30-3-409. Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it. History: En. Sec. 3-409, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-409; […]
30-3-410. Acceptance of draft — certified check
30-3-410. Acceptance of draft — certified check. (1) “Acceptance” means the drawee’s signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee’s signature alone. Acceptance may be made at any time and becomes effective when notification pursuant to instructions is given or the accepted draft […]
30-3-411. Repealed
30-3-411. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-411, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-411.
30-3-402. Repealed
30-3-402. Repealed. Sec. 230, Ch. 410, L. 1991. History: En. Sec. 3-402, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-402.