CHAPTER 3. Collection of Items: Payor Banks

Chapter 3 enacted by Stats. 1963, Ch. 819.

§§ 4301–4303 · 3 sections

• § 4301 (a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of…
• § 4302 (a) If an item is presented to and received by a payor bank, the bank is accountable for the amount of either: (1) A demand item, other than a documentary…
• § 4303 (a) Any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank comes too late to terminate,…