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A Hypertext Publication
of

UNIFORM COMMERCIAL CODE - ARTICLE 4
BANK DEPOSITS AND COLLECTIONS

Copyright 1978, 1987, 1988, 1990, 1991, 1992 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.

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[For Article 4 as enacted by a particular state and any proposed revisions click here.]

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PART 1. GENERAL PROVISIONS AND DEFINITIONS

PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS

PART 3. COLLECTION OF ITEMS: PAYOR BANKS

PART 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

PART 5. COLLECTION OF DOCUMENTATARY DRAFTS

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PART 1.GENERAL PROVISIONS AND DEFINITIONS

• § 4-101. SHORT TITLE.
• § 4-102. APPLICABILITY.
• § 4-103. VARIATION BY AGREEMENT; MEASURE OF DAMAGES; ACTION CONSTITUTING ORDINARY CARE.
• § 4-104. DEFINITIONS AND INDEX OF DEFINITIONS.
• § 4-105. "BANK"; "DEPOSITARY BANK"; "PAYOR BANK"; "INTERMEDIARY BANK"; "COLLECTING BANK"; "PRESENTING BANK".
• § 4-106. PAYABLE THROUGH OR PAYABLE AT BANK; COLLECTING BANK.
• § 4-107. SEPARATE OFFICE OF BANK.
• § 4-108. TIME OF RECEIPT OF ITEMS.
• § 4-109. DELAYS.
• § 4-110. ELECTRONIC PRESENTMENT.
• § 4-111. STATUTE OF LIMITATIONS.

PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS

• § 4-201. STATUS OF COLLECTING BANK AS AGENT AND PROVISIONAL STATUS OF CREDITS; APPLICABILITY OF ARTICLE; ITEM INDORSED "PAY ANY BANK".
• § 4-202. RESPONSIBILITY FOR COLLECTION OR RETURN; WHEN ACTION TIMELY.
• § 4-203. EFFECT OF INSTRUCTIONS.
• § 4-204. METHODS OF SENDING AND PRESENTING; SENDING DIRECTLY TO PAYOR BANK.
• § 4-205. DEPOSITARY BANK HOLDER OF UNINDORSED ITEM.
• § 4-206. TRANSFER BETWEEN BANKS.
• § 4-207. TRANSFER WARRANTIES.
• § 4-208. PRESENTMENT WARRANTIES.
• § 4-209. ENCODING AND RETENTION WARRANTIES.
• § 4-210. SECURITY INTEREST OF COLLECTING BANK IN ITEMS, ACCOMPANYING DOCUMENTS AND PROCEEDS.
• § 4-211. WHEN BANK GIVES VALUE FOR PURPOSES OF HOLDER IN DUE COURSE.
• § 4-212. PRESENTMENT BY NOTICE OF ITEM NOT PAYABLE BY, THROUGH, OR AT BANK; LIABILITY OF DRAWER OR INDORSER.
• § 4-213. MEDIUM AND TIME OF SETTLEMENT BY BANK.
• § 4-214. RIGHT OF CHARGE-BACK OR REFUND; LIABILITY OF COLLECTING BANK; RETURN OF ITEM.
• § 4-215. FINAL PAYMENT OF ITEM BY PAYOR BANK; WHEN PROVISIONAL DEBITS AND CREDITS BECOME FINAL; WHEN CERTAIN CREDITS BECOME AVAILABLE FOR WITHDRAWAL.
• § 4-216. INSOLVENCY AND PREFERENCE.

PART 3. COLLECTION OF ITEMS: PAYOR BANKS

• § 4-301. DEFERRED POSTING; RECOVERY OF PAYMENT BY RETURN OF ITEMS; TIME OF DISHONOR; RETURN OF ITEMS BY PAYOR BANK.
• § 4-302. PAYOR BANK'S RESPONSIBILITY FOR LATE RETURN OF ITEM.
• § 4-303. WHEN ITEMS SUBJECT TO NOTICE, STOP-PAYMENT ORDER, LEGAL PROCESS, OR SETOFF; ORDER IN WHICH ITEMS MAY BE CHARGED OR CERTIFIED.

PART 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

• § 4-401. WHEN BANK MAY CHARGE CUSTOMER'S ACCOUNT.
• § 4-402. BANK'S LIABILITY TO CUSTOMER FOR WRONGFUL DISHONOR; TIME OF DETERMINING INSUFFICIENCY OF ACCOUNT.
• § 4-403. CUSTOMER'S RIGHT TO STOP PAYMENT; BURDEN OF PROOF OF LOSS.
• § 4-404. BANK NOT OBLIGED TO PAY CHECK MORE THAN SIX MONTHS OLD.
• § 4-405. DEATH OR INCOMPETENCE OF CUSTOMER.
• § 4-406. CUSTOMER'S DUTY TO DISCOVER AND REPORT UNAUTHORIZED SIGNATURE OR ALTERATION.
• § 4-407. PAYOR BANK'S RIGHT TO SUBROGATION ON IMPROPER PAYMENT.

PART 5. COLLECTION OF DOCUMENTATARY DRAFTS

• § 4-501. HANDLING OF DOCUMENTARY DRAFTS; DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR.
• § 4-502. PRESENTMENT OF "ON ARRIVAL" DRAFTS.
• § 4-503. RESPONSIBILITY OF PRESENTING BANK FOR DOCUMENTS AND GOODS; REPORT OF REASONS FOR DISHONOR; REFEREE IN CASE OF NEED.
• § 4-504. PRIVILEGE OF PRESENTING BANK TO DEAL WITH GOODS; SECURITY INTEREST FOR EXPENSES.

© Copyright 2005 by The American Law Institute and the National Conference of Commissioners on Uniform State Laws; reproduced, published and distributed with the permission of the Permanent Editorial Board for the Uniform Commercial Code for the limited purposes of study, teaching, and academic research.