§46-4-101. Short Title
§46-4-101. Short title. This article may be cited as Uniform Commercial Code — Bank Deposits and Collections.
§46-4-102. Applicability
(a) To the extent that items within this article are also within articles three and eight, they are subject to those articles. If there is conflict, this article governs article three but article eight governs this article. (b) The liability of a bank for action or nonaction with respect to an item handled by it […]
§46-4-103. Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care
(a) 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 […]
§46-4-105. "Bank"; &Quot;depositary Bank"; &Quot;intermediary Bank"; &Quot;collecting Bank"; &Quot;payor Bank"; &Quot;presenting bank."
In this article: (1) "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union or trust company;
§46-4-106. Payable Through or Payable at Bank; Collecting Bank
(a) 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. (b) If […]
§46-4-107. 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 three.
§46-4-108. Time of Receipt of Items
(a) 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 p.m. or later as a cutoff hour for the handling of money and items and the making of entries […]
§46-4-109. Delays
(a) 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 chapter for a period not exceeding […]
§46-4-110. Electronic Presentment
(a) "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 […]
§46-4-111. 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.
§46-4-201. Status of Collecting Banks as Agent and Provisional Status of Credits; Applicability of Article; Item Indorsed &Quot;pay Any bank."
§46-4-201. Status of collecting banks as agent and provisional status of credits; applicability of article; item indorsed "pay any bank." (a) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an […]
§46-4-202. Responsibility for Collection or Return; When Action Timely
(a) A collecting bank must exercise ordinary care in: (1) Presenting an item or sending it for presentment;
§46-4-203. Effect of Instructions
Subject to article three concerning conversion of instruments (section 3-420) and restrictive indorsements (section 3-206), only a collecting bank's transferor can give instructions that affect the bank or constitute notice to it and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any […]
§46-4-204. Methods of Sending and Presenting; Sending Directly to Payor Bank
(a) A collecting bank shall send items by a reasonably prompt method taking into consideration relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved and the method generally used by it or others to present those items. (b) A collecting bank may send: (1) An […]
§46-4-205. Depositary Bank Holder of Unindorsed Item
If a customer delivers an item to a depositary bank for collection: (1) The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if […]
§46-4-206. Transfer Between Banks
Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank.
§46-4-207. Transfer Warranties
(a) A customer or collecting bank that transfers an item and receives a settlement or other consideration warrants to the transferee and to any subsequent collecting bank that: (1) The warrantor is a person entitled to enforce the item;
§46-4-208. Presentment Warranties
(a) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, (i) the person obtaining payment or acceptance, at the time of presentment and (ii) a previous transferor of the draft, at the time of transfer, warrant to the drawee that pays or accepts […]
§46-4-209. Encoding and Retention Warranties
(a) A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty. (b) A person who undertakes to […]
§46-4-210. Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds
(a) A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either: (1) In case of an item deposited in an account, to the extent to which credit given for the item has been withdrawn or applied;