Bank Deposits and Collections

  1. Law
  2. Connecticut General Statutes
  3. Uniform Commercial Code
  4. Bank Deposits and Collections

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Section
42a-4-101

Short title: Uniform Commercial Code–Bank Deposits and Collections.

Section
42a-4-102

Applicability.

Section
42a-4-103

Variation by agreement. Measure of damages. Action constituting ordinary care.

Section
42a-4-104

Definitions and index of definitions.

Section
42a-4-105

“Bank”. “Depositary bank”. “Payor bank”. “Intermediary bank”. “Collecting bank”. “Presenting bank”.

Section
42a-4-106

Payable through or payable at bank. Collecting bank.

Section
42a-4-107

Separate office of bank.

Section
42a-4-108

Time of receipt of items.

Section
42a-4-109

Delays.

Section
42a-4-110

Electronic presentment.

Section
42a-4-111

Statute of limitations.

Section
42a-4-201

Status of collecting bank as agent and provisional status of credits. Applicability of article. Item endorsed “pay any bank”.

Section
42a-4-202

Responsibility for collection or return. When action timely.

Section
42a-4-203

Effect of instructions.

Section
42a-4-204

Methods of sending and presenting. Sending directly to payor bank.

Section
42a-4-205

Depositary bank holder of unendorsed item.

Section
42a-4-206

Transfer between banks.

Section
42a-4-207

Transfer warranties.

Section
42a-4-208

Presentment warranties.

Section
42a-4-209

Encoding and retention warranties.

Section
42a-4-210

Security interest of collecting bank in items, accompanying documents and proceeds.

Section
42a-4-211

When bank gives value for purposes of holder in due course.

Section
42a-4-212

Presentment by notice of item not payable by, through or at bank. Liability of drawer or endorser.

Section
42a-4-213

Medium and time of settlement by bank.

Section
42a-4-214

Right of charge-back or refund. Liability of collecting bank. Return of item.

Section
42a-4-215

Final payment of item by payor bank. When provisional debits and credits become final. When certain credits become available for withdrawal.

Section
42a-4-216

Insolvency and preference.

Section
42a-4-301

Deferred posting. Recovery of payment by return of items. Time of dishonor. Return of items by payor bank.

Section
42a-4-302

Payor bank's responsibility for late return of item.

Section
42a-4-303

When items subject to notice, stop-payment order, legal process or set-off. Order in which items may be charged or certified.

Section
42a-4-401

When bank may charge customer's account.

Section
42a-4-402

Bank's liability to customer for wrongful dishonor. Time of determining insufficiency of account.

Section
42a-4-403

Customer's right to stop payment. Burden of proof of loss.

Section
42a-4-404

Bank not obligated to pay check more than six months old.

Section
42a-4-405

Death or incompetence of customer.

Section
42a-4-406

Customer's duty to discover and report unauthorized signature or alteration.

Section
42a-4-407

Payor bank's right to subrogation on improper payment.

Section
42a-4-501

Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.

Section
42a-4-502

Presentment of “on arrival” drafts.

Section
42a-4-503

Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.

Section
42a-4-504

Privilege of presenting bank to deal with goods; security interest for expenses.