§ 11-4-101. Short Title
This article may be cited as “Uniform Commercial Code — Bank Deposits and Collections.” History. Code 1933, § 109A-4-101, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1996, p. 1306, § 4.
§ 11-4-102. Applicability
To the extent that items within this article are also within Articles 3 and 8 of this title, they are subject to those articles. If there is conflict, this article governs Article 3 of this title, but Article 8 of this title governs this article. The liability of a bank for action or nonaction with […]
§ 11-4-103. Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care
The effect of the provisions of this article may be varied by agreement, but the parties to the agreement cannot disclaim a bank’s responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However, the parties may determine by agreement the […]
§ 11-4-104. Definitions and Index of Definitions
In this article, 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 noon and midnight; “Banking day” means the part […]
§ 11-4-105. “Bank”; “Depositary Bank”; “Payor Bank”; “Intermediary Bank”; “Collecting Bank”; “Presenting bank.”
In this article: “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; […]
§ 11-4-106. Payable Through or Payable at Bank; Collecting Bank
If an item states that it is “payable through” a bank identified in the item, the item (i) designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and (ii) may be presented for payment only by or through the bank. If an item states that […]
§ 11-4-107. Separate Office of a Bank
A branch or separate office of a bank, including the location of any agent of a bank receiving items for data processing purposes, 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 […]
§ 11-4-108. 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 2:00 P.M. or later as a cutoff hour for the handling of money and items and the making of entries on […]
§ 11-4-109. 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 this title for a period not exceeding two […]
§ 11-4-110. 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, […]
§ 11-4-111. Statute of Limitations
An action to enforce an obligation, duty, or right arising under this article must be commenced within three years after the cause of action accrues. History. Code 1981, § 11-4-111 , enacted by Ga. L. 1996, p. 1306, § 5.