7-3-505
Section 7-3-505 Evidence of dishonor. (a) The following are admissible as evidence and create
a presumption of dishonor and of any notice of dishonor stated: (1) A document regular in
form as provided in subsection (b) which purports to be a protest; (2) A purported stamp or
writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating
that acceptance or payment has been refused unless reasons for the refusal are stated and
the reasons are not consistent with dishonor; (3) A book or record of the drawee, payor bank,
or collecting bank, kept in the usual course of business which shows dishonor, even if there
is no evidence of who made the entry. (b) A protest is a certificate of dishonor made by a
United States consul or vice consul, or a notary public or other person authorized to administer
oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory
to that person. The protest must identify the instrument and...
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7-4-209
Section 7-4-209 Encoding and retention warranties. (a) A person who encodes information on
or with respect to an item after issue warrants to any subsequent collecting bank and to the
payor bank or other payor that the information is correctly encoded. If the customer of a
depositary bank encodes, that bank also makes the warranty. (b) A person who undertakes to
retain an item pursuant to an agreement for electronic presentment warrants to any subsequent
collecting bank and to the payor bank or other payor that retention and presentment of the
item comply with the agreement. If a customer of a depositary bank undertakes to retain an
item, that bank also makes this warranty. (c) A person to whom warranties are made under this
section and who took the item in good faith may recover from the warrantor as damages for
breach of warranty an amount equal to the loss suffered as a result of the breach, plus expenses
and loss of interest incurred as a result of the breach. (Acts 1995, No....
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35-10-91
Section 35-10-91 Payoff statement; notice. (a) A person liable for payment or performance of
the obligation secured by the real property described in a security instrument who makes proper
notice pursuant to this section shall be entitled to receive a payoff statement. (b) Proper
notice must contain all of the following: (1) The entitled person's name. (2) If given by
a person other than an entitled person, the name of the person giving the notification and
a statement, if required by the secured party evidence, that the person is an authorized agent
of the entitled person. (3) The address to which the creditor must send the statement. (4)
The account number assigned by the secured creditor or other sufficient information to enable
the creditor to identify the secured obligation and the real property encumbered by the security
interest. (5) If the secured obligation is an equity line, a statement that the entitled person
requests the secured creditor to close the equity line upon...
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7-3-118
Section 7-3-118 Statute of limitations. (a) Note payable at a definite time. Except as provided
in subsection (e), an action to enforce the obligation of a party to pay a note payable at
a definite time must be commenced within six years after the due date or dates stated in the
note or, if a due date is accelerated, within six years after the accelerated due date. (b)
Note payable on demand. Except as provided in subsection (d) or (e), if demand for payment
is made to the maker of a note payable on demand, an action to enforce the obligation of a
party to pay the note must be commenced within six years after the demand. If no demand for
payment is made to the maker, an action to enforce the note is barred if neither principal
nor interest on the note has been paid for a continuous period of 10 years. (c) Unaccepted
draft. Except as provided in subsection (d), an action to enforce the obligation of a party
to an unaccepted draft to pay the draft must be commenced within three years...
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7-4-105
Section 7-4-105 "Bank"; "depositary bank"; "payor bank"; "intermediary
bank"; "collecting bank"; "presenting bank." In this article: (1)
"Bank" means a person engaged in the business of banking, including a savings bank,
savings and loan association, credit union, or trust company; (2) "Depositary bank"
means the first bank to take an item even though it is also the payor bank, unless the item
is presented for immediate payment over the counter; (3) "Payor bank" means a bank
that is the drawee of a draft; (4) "Intermediary bank" means a bank to which an
item is transferred in course of collection except the depositary or payor bank; (5) "Collecting
bank" means a bank handling an item for collection except the payor bank; (6) "Presenting
bank" means a bank presenting an item except a payor bank. (Acts 1965, No. 549, p. 811;
repealed by Acts 1995, No. 95-668, p. 1381, §2; added by Acts 1995, No. 95-668, p. 1381,
§2.)...
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7-4A-207
Section 7-4A-207 Misdescription of beneficiary. (a) Subject to subsection (b), if, in a payment
order received by the beneficiary's bank, the name, bank account number, or other identification
of the beneficiary refers to a nonexistent or unidentifiable person or account, no person
has rights as a beneficiary of the order and acceptance of the order cannot occur. (b) If
a payment order received by the beneficiary's bank identifies the beneficiary both by name
and by an identifying or bank account number and the name and number identify different persons,
the following rules apply: (1) Except as otherwise provided in subsection (c), if the beneficiary's
bank does not know that the name and number refer to different persons, it may rely on the
number as the proper identification of the beneficiary of the order. The beneficiary's bank
need not determine whether the name and number refer to the same person. (2) If the beneficiary's
bank pays the person identified by name or knows that the...
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35-12-79
Section 35-12-79 Custody by state; recovery by holder; defense of holder. (a) In this article,
good faith means honesty in fact in the conduct or transaction concerned. (b) Upon payment
or delivery of property to the Treasurer, the state assumes custody and responsibility for
the safekeeping of the property. A holder who pays or delivers property to the Treasurer in
good faith is relieved of all liability arising thereafter with respect to the property. The
payment or delivery of property to the Treasurer shall operate as a full, absolute and unconditional
release and discharge of the holder from any and all claims or demands of or liability to
any person entitled thereto, or to any other claimant or state, and the payment or delivery
may be pleaded as an absolute bar to any action brought against the holder by any other person
entitled thereto, or by any other claimant or state. Once properly pleaded, the holder shall
immediately and thereafter be relieved of and held harmless from...
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45-11-201
Section 45-11-201 Notice of refusal; retrieval and voiding of license; records. (a) In Chilton
County, when a negotiable instrument, such as a check or draft, given for a motor vehicle
license, boat license, driver's license, privilege license, or conservation license is found
to be noncollectible for any reason, the judge of probate or the tax collector, or other like
official, or their designee, shall notify the maker or drawer of the negotiable instrument
in writing that payment of the negotiable instrument was refused by the drawee and that if
the maker or drawer does not pay the holder thereof the amount due thereon within 10 days
of the mailing of the notice to the maker or drawer, then the license shall be subject to
retrieval or voided by the judge of probate or tax collector, or other like official, without
further notice. Written notice by regular mail to the address printed on the instrument or
given by the maker or drawer at the time of issuance of the license shall be...
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45-20-83.53
Section 45-20-83.53 Notice of refusal; retrieval and voiding of license; records. (a) In Covington
County, when a negotiable instrument, such as a check or draft, given for a motor vehicle
license, boat license, driver's license, privilege license, or conservation license is found
to be noncollectible for any reason, the judge of probate, or his or her designee, shall notify
the maker or drawer of the negotiable instrument, in writing, that payment of the negotiable
instrument was refused by the drawee and that if the maker or drawer does not pay the holder
thereof the amount due thereon, within 10 days of the mailing of the notice to the maker or
drawer, then the motor vehicle license shall be subject to being retrieved or voided by the
judge of probate without further notice. Written notice by regular mail to the address printed
on the instrument or given by the maker or drawer at the time of issuance shall be conclusively
deemed sufficient and equivalent to notice having been...
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45-34-84.81
Section 45-34-84.81 Procedures governing noncollectible negotiable instruments. (a) In Henry
County, when a negotiable instrument, such as a check or draft, given for a motor vehicle
license, boat license, driver's license, privilege license, or conservation license is found
to be noncollectible for any reason, the judge of probate, or his or her designee, shall notify
the maker or drawer of the negotiable instrument in writing that payment of the negotiable
instrument was refused by the drawee and that if the maker or drawer does not pay the holder
thereof the amount due thereon within 10 days of the mailing of the notice to the maker or
drawer, then the license shall be subject to retrieval or voided by the judge of probate without
further notice. Written notice by regular mail to the address printed on the instrument or
given by the maker or drawer at the time of issuance of the license shall be conclusively
deemed sufficient and equivalent to notice having been received by the...
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