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7-4-202
Section 7-4-202 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;
(2) Sending notice of dishonor or nonpayment or returning an item other than a documentary
draft to the bank's transferor after learning that the item has not been paid or accepted,
as the case may be; (3) Settling for an item when the bank receives final settlement; and
(4) Notifying its transferor of any loss or delay in transit within a reasonable time after
discovery thereof. (b) A collecting bank exercises ordinary care under subsection (a) by taking
proper action before its midnight deadline following receipt of an item, notice, or settlement.
Taking proper action within a reasonably longer time may constitute the exercise of ordinary
care, but the bank has the burden of establishing timeliness. (c) Subject to subsection (a)(1),
a bank is not liable for the insolvency, neglect, misconduct, mistake,...
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7-4-214
Section 7-4-214 Right of charge-back or refund; liability of collecting bank; return of item.
(a) If a collecting bank has made provisional settlement with its customer for an item and
fails by reason of dishonor, suspension of payments by a bank, or otherwise to receive settlement
for the item which is or becomes final, the bank may revoke the settlement given by it, charge
back the amount of any credit given for the item to its customer's account, or obtain refund
from its customer, whether or not it is able to return the item, if by its midnight deadline
or within a longer reasonable time after it learns the facts it returns the item or sends
notification of the facts. If the return or notice is delayed beyond the bank's midnight deadline
or a longer reasonable time after it learns the facts, the bank may revoke the settlement,
charge back the credit, or obtain refund from its customer, but it is liable for any loss
resulting from the delay. These rights to revoke, charge back, and...
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7-4-104
Section 7-4-104 Definitions and index of definitions. (a) In this article, unless the context
otherwise requires: (1) "Account" means any deposit or credit account with a bank,
including a demand, time, savings, passbook, share draft, or like account, other than an account
evidenced by a certificate of deposit; (2) "Afternoon" means the period of a day
between noon and midnight; (3) "Banking day" means the part of a day on which a
bank is open to the public for carrying on substantially all of its banking functions; (4)
"Clearing house" means an association of banks or other payors regularly clearing
items; (5) "Customer" means a person having an account with a bank or for whom a
bank has agreed to collect items, including a bank that maintains an account at another bank;
(6) "Documentary draft" means a draft to be presented for acceptance or payment
if specified documents, certificated securities (Section 7-8-102) or instructions for uncertificated
securities (Section 7-8-308), or...
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7-4-103
Section 7-4-103 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 the standards by which the bank's responsibility is
to be measured if those standards are not manifestly unreasonable. (b) Federal Reserve regulations
and operating circulars, clearing-house rules, and the like have the effect of agreements
under subsection (a), whether or not specifically assented to by all parties interested in
items handled. (c) Action or non-action approved by this article or pursuant to Federal Reserve
regulations or operating circulars is the exercise of ordinary care and, in the absence of
special instructions, action or non-action consistent with...
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44-2-10
Section 44-2-10 Text of compact. The Interstate Compact for Juveniles is enacted into law and
entered into with all jurisdictions mutually adopting the compact in the form substantially
as follows: THE INTERSTATE COMPACT FOR JUVENILES Article I. Purpose. The compacting states
to this interstate compact recognize that each state is responsible for the proper supervision
or return of juveniles, delinquents and status offenders who are on probation or parole and
who have absconded, escaped or run away from supervision and control and in so doing have
endangered their own safety and the safety of others. The compacting states also recognize
that each state is responsible for the safe return of juveniles who have run away from home
and in doing so have left their state of residence. The compacting states also recognize that
Congress, by enacting the Crime Control Act, 4 U.S.C. Section 112 (1965), has authorized and
encouraged compacts for cooperative efforts and mutual assistance in the...
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16-44B-1
Section 16-44B-1 Compact. ARTICLE I PURPOSE It is the purpose of this compact to remove barriers
to education success imposed on children of military families because of frequent moves and
deployment of their parents by: A. Facilitating the timely enrollment of children of military
families and ensuring that they are not placed at a disadvantage due to difficulty in the
transfer of education records from the previous school district(s) or variations in entrance/age
requirements. B. Facilitating the student placement process through which children of military
families are not disadvantaged by variations in attendance requirements, scheduling, sequencing,
grading, course content or assessment. C. Facilitating the qualification and eligibility for
enrollment, educational programs, and participation in extracurricular academic, athletic,
and social activities. D. Facilitating the on-time graduation of children of military families.
E. Providing for the promulgation and enforcement of...
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7-4-201
Section 7-4-201 Status of collecting bank 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 agent or sub-agent of the owner of the item
and any settlement given for the item is provisional. This provision applies regardless of
the form of indorsement or lack of indorsement and even though credit given for the item is
subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of
ownership of an item by its owner and any rights of the owner to proceeds of the item are
subject to rights of a collecting bank, such as those resulting from outstanding advances
on the item and rights of recoupment or setoff. If an item is handled by banks for purposes
of presentment, payment, collection, or return, the relevant provisions of this...
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7-4-207
Section 7-4-207 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; (2) All
signatures on the item are authentic and authorized; (3) The item has not been altered; (4)
The item is not subject to a defense or claim in recoupment (Section 7-3-305(a)) of any party
that can be asserted against the warrantor; and (5) The warrantor has no knowledge of any
insolvency proceeding commenced with respect to the maker or acceptor or, in the case of an
unaccepted draft, the drawer. (b) If an item is dishonored, a customer or collecting bank
transferring the item and receiving settlement or other consideration is obliged to pay the
amount due on the item (i) according to the terms of the item at the time it was transferred,
or (ii) if the transfer was of an incomplete item, according to its terms...
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7-4-406
Section 7-4-406 Customer's duty to discover and report unauthorized signature or alteration.
(a) A bank that sends or makes available to a customer a statement of account showing payment
of items for the account shall either return or make available to the customer the items paid
or provide information in the statement of account sufficient to allow the customer reasonably
to identify the items paid. The statement of account provides sufficient information if the
item is described by item number, amount, and date of payment. (b) If the items are not returned
to the customer, the person retaining the items shall either retain the items or, if the items
are destroyed, maintain the capacity to furnish legible copies of the items until the expiration
of seven years after receipt of the items. A customer may request an item from the bank that
paid the item, and that bank must provide in a reasonable time either the item or, if the
item has been destroyed or is not otherwise obtainable, a...
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7-3-103
Section 7-3-103 Definitions. (a) In this article: (1) "Acceptor" means a drawee who
has accepted a draft. (2) "Drawee" means a person ordered in a draft to make payment.
(3) "Drawer" means a person who signs or is identified in a draft as a person ordering
payment. (4) "Good faith" means honesty in fact in the conduct or transaction concerned.
(5) "Maker" means a person who signs or is identified in a note as a person undertaking
to pay. (6) "Order" means a written instruction to pay money signed by the person
giving the instruction. The instruction may be addressed to any person, including the person
giving the instruction, or to one or more persons jointly or in the alternative but not in
succession. An authorization to pay is not an order unless the person authorized to pay is
also instructed to pay. (7) "Ordinary care" in the case of a person engaged in business
means observance of reasonable commercial standards, prevailing in the area in which the person
is located, with respect...
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