674.301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.— (1) 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 revoke the […]
674.302 Payor bank’s responsibility for late return of item.— (1) If an item is presented to and received by a payor bank, the bank is accountable for the amount of: (a) A demand item, other than a documentary draft, whether properly payable or not, if the bank, in any case in which it is not also the depositary […]
674.303 When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified.— (1) 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 pay an […]
