§ 47-4-101. Short Title

This chapter may be cited as “Uniform Commercial Code — Bank Deposits and Collections.”

§ 47-4-102. Applicability

To the extent that items within this chapter are also within chapters 3 and 8, they are subject to those chapters. If there is conflict, this chapter governs chapter 3, but chapter 8 governs this chapter. The liability of a bank for action or non-action with respect to an item handled by it for purposes […]

§ 47-4-103. Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care

The effect of the provisions of this chapter may be varied by agreement, to the extent the agreement does not disclaim a bank’s responsibility for its own lack of good faith and is not manifestly unreasonable. Federal Reserve regulations and operating circulars, clearing-house rules, and the like have the effect of agreements under subsection (a), […]

§ 47-4-104. Definitions and Index of Definitions

As used in this chapter, unless the context otherwise requires: “Account” means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit; “Afternoon” means the period of a day between twelve o’clock noon (12:00 noon) and […]

§ 47-4-105. “Bank” — “Depositary Bank”— “Payor Bank” — “Intermediary Bank” — “Collecting Bank”— “Presenting bank.”

In this chapter: “Bank” means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company. “Depositary bank” means the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter; […]

§ 47-4-106. Payable Through or Payable at Bank — Collecting Bank

If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank. If an item […]

§ 47-4-107. Separate Office of Bank

A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which action may be taken or notice or orders must be given under this chapter and under chapter 3 of this title.

§ 47-4-108. Time of Receipt of Items

For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the day, a bank may fix an afternoon hour of two o’clock (2:00) p.m. or later as a cutoff hour for the handling of money and items and the making of […]

§ 47-4-109. Delays

Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by Chapters 1 9 of this title for a […]

§ 47-4-110. Electronic Presentment

“Agreement for electronic presentment” means an agreement, clearing-house rule, or Federal Reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of an item or information describing the item (“presentment notice”) rather than delivery of the item itself. The agreement may provide for procedures governing retention, […]

§ 47-4-111. Statute of Limitations

An action to enforce an obligation, duty, or right arising under this chapter must be commenced within three (3) years after the cause of action accrues.