BANK DEPOSITS AND COLLECTIONS
PART 1. GENERAL PROVISIONS AND DEFINITIONS.
Variation by agreement--Measure of damages--Certain action constituting ordinary
Definitions and index of definitions.
"Bank"--"Collecting bank"--"Depositary bank"--"Intermediary bank"--"Payor bank"--"Presenting bank".
Payable through or payable at bank--Collecting bank.
Separate office of a bank.
Time of receipt of items.
Statute of limitations.
PART 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS.
Status of collecting bank as agent and provisional status of credits--Applicability of
chapter--Item indorsed "pay any bank".
Responsibility for collection or return--When action timely.
Effect of instructions.
Methods of sending and presenting--Sending directly to payor bank.
Depositary bank holder of unendorsed item.
Transfer between banks.
Encoding and retention warranties.
Security interest of collecting bank in items, accompanying documents, and proceeds.
When bank gives value for purposes of holder in due course.
Presentment by notice of item not payable by, through, or at a bank--Liability of
drawer or indorser.
Medium and time of settlement by bank.
Right of charge-back or refund; Liability of collecting bank; Return of item.
Final payment of item by payor bank--When provisional debits and credits become
final--When certain credits become available for withdrawal.
Insolvency and preference.
PART 3. COLLECTION OF ITEMS: PAYOR BANKS.
Deferred posting--Recovery of payment by return of items--Time of dishonor--Return
of items by payor bank.
Payor bank's responsibility for late return of item.
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.
When bank may charge customer's account.
Bank's liability to customer for wrongful dishonor--Time of determining
insufficiency of account.
Customer's right to stop payment--Burden of proof of loss.
Bank not obligated to pay check more than six months old.
Death or incompetence of customer.
Customer's duty to discover and report unauthorized signature or alteration.
Payor bank's right to subrogation on improper payment.
PART 5. COLLECTION OF DOCUMENTARY DRAFTS.
Handling of documentary drafts; Duty to send for presentment and to notify customer
Presentment of "on arrival" drafts.
Responsibility of presenting bank for documents and goods--Report of reasons for
dishonor--Referee in case of need.
Privilege of presenting bank to deal with goods--Security interest for expenses.