11 §4-101. Short title
§4-101. Short title This Article may be cited as “Uniform Commercial Code — Bank Deposits and Collections.” [PL 1993, c. 293, Pt. B, §6 (AMD).] SECTION HISTORY PL 1993, c. 293, §B6 (AMD).
11 §4-102. Applicability
§4-102. Applicability (1). To the extent that items within this Article are also within Articles 3‑A and 8, they are subject to those Articles. If there is conflict, this Article governs Article 3‑A, but Article 8 governs this Article. [PL 1993, c. 293, Pt. B, §7 (AMD).] (2). The liability of a bank for […]
11 §4-103. Variation by agreement; measure of damages; action constituting ordinary care
§4-103. Variation by agreement; measure of damages; action constituting ordinary care (1). The effect of the provisions of this Article may be varied by agreement, but the parties to the agreement can not disclaim a bank’s responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages […]
11 §4-104. Definitions and index of definitions
§4-104. Definitions and index of definitions (1). In this Article, unless the context otherwise indicates, the following terms have the following meanings. (a). Account. “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 […]
11 §4-105-A. Payable through or payable at bank; collecting bank
§4-105-A. Payable through or payable at bank; collecting bank (1). If an item states that it is “payable through” a bank identified in the item: (a). The item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item; and [PL 1993, c. 293, Pt. […]
11 §4-105. “Depositary bank”; “bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank”
§4-105. “Depositary bank”; “bank”; “payor bank”; “intermediary bank”; “collecting bank”; “presenting bank” In this Article, unless the context otherwise indicates, the following terms have the following meanings. [PL 1993, c. 293, Pt. B, §10 (AMD).] (1). Depositary bank. “Depositary bank” means the first bank to take an item even though it is also the […]
11 §4-106. Separate office of a bank
§4-106. Separate office of a 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 notices or orders must be given under this Article and under Article 3-A. [PL […]
11 §4-107. Time of receipt of items
§4-107. Time of receipt of items (1). 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 p.m. or later as a cutoff hour for the handling of money and […]
11 §4-108. Delays
§4-108. Delays (1). 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 […]
11 §4-109. Process of posting (REPEALED)
§4-109. Process of posting (REPEALED) SECTION HISTORY PL 1993, c. 293, §B15 (RP).
11 §4-110. Electronic presentment
§4-110. Electronic presentment (1). “Agreement for electronic presentment” means an agreement, clearinghouse rule or Federal Reserve regulation or operating circular that provides that presentment of an item may be made by transmission of an image of an item or information describing that item, that is, a “presentment notice,” rather than by delivery of the item […]
11 §4-111. Statute of limitations
§4-111. Statute of limitations An action to enforce an obligation, duty or right arising under this Article must be commenced within 3 years after the cause of action accrues. [PL 1993, c. 293, Pt. B, §17 (NEW).] SECTION HISTORY PL 1993, c. 293, §B17 (NEW).