7-4-403
Section 7-4-403 Customer's right to stop payment; burden of proof of loss. (a) A customer or
any person authorized to draw on the account if there is more than one person may stop payment
of any item drawn on the customer's account or close the account by an order to the bank describing
the item or account with reasonable certainty received at a time and in a manner that affords
the bank a reasonable opportunity to act on it before any action by the bank with respect
to the item described in Section 7-4-303. If the signature of more than one person is required
to draw on an account, any of these persons may stop payment or close the account. (b) A stop-payment
order is effective for six months, but it lapses after 14 calendar days if the original order
was oral and was not confirmed in writing within that period. A stop-payment order may be
renewed for additional six-month periods by a writing given to the bank within a period during
which the stop-payment order is effective. (c) The...
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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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7-4-401
Section 7-4-401 When bank may charge customer's account. (a) A bank may charge against the
account of a customer an item that is properly payable from that account even though the charge
creates an overdraft. An item is properly payable if it is authorized by the customer and
is in accordance with any agreement between the customer and bank. (b) A customer is not liable
for the amount of an overdraft if the customer neither signed the item nor benefited from
the proceeds of the item, except that a bank may charge the amount of the overdraft, interest
thereon, and any applicable fee against deposits or other credits to the account, regardless
of the source of the deposits or credits. (c) A bank may charge against the account of a customer
a check that is otherwise properly payable from the account, even though payment was made
before the date of the check, unless the customer has given notice to the bank of the postdating
describing the check with reasonable certainty. The notice is...
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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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7-4-303
Section 7-4-303 When items subject to notice, stop-payment order, legal process, or setoff;
order in which items may be charged or certified. (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, suspend, or modify the bank's right or duty to pay an item or to charge
its customer's account for the item if the knowledge, notice, stop-payment order, or legal
process is received or served and a reasonable time for the bank to act thereon expires or
the setoff is exercised after the earliest of the following: (1) The bank accepts or certifies
the item; (2) The bank pays the item in cash; (3) The bank settles for the item without having
a right to revoke the settlement under statute, clearing-house rule, or agreement; (4) The
bank becomes accountable for the amount of the item under Section 7-4-302 dealing with the
payor bank's responsibility for late return of items; or (5) With respect to...
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7-4A-105
Section 7-4A-105 Other definitions. (a) In this article: (1) "Authorized account"
means a deposit account of a customer in a bank designated by the customer as a source of
payment of payment orders issued by the customer to the bank. If a customer does not so designate
an account, any account of the customer is an authorized account if payment of a payment order
from that account is not inconsistent with a restriction on the use of that account. (2) "Bank"
means a person engaged in the business of banking and includes a savings bank, savings and
loan association, credit union, and trust company. A branch or separate office of a bank is
a separate bank for purposes of this article. (3) "Customer" means a person, including
a bank, having an account with a bank, or from whom a bank has agreed to receive payment orders.
(4) "Funds-transfer business day" of a receiving bank means the part of a day during
which the receiving bank is open for the receipt, processing, and transmittal of...
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7-4-405
Section 7-4-405 Death or incompetence of customer. (a) A payor or collecting bank's authority
to accept, pay, or collect an item or to account for proceeds of its collection, if otherwise
effective, is not rendered ineffective by incompetence of a customer of either bank existing
at the time the item is issued or its collection is undertaken if the bank does not know of
an adjudication of incompetence. Neither death nor incompetence of a customer revokes the
authority to accept, pay, collect, or account until the bank knows of the fact of death or
of an adjudication of incompetence and has reasonable opportunity to act on it. (b) Even with
knowledge, a bank may for 10 days after the date of death pay or certify checks drawn on or
before that date unless ordered to stop payment by a person claiming an interest in the account.
(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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35-12-72
Section 35-12-72 Presumption of abandonment. (a) Property is presumed abandoned if it is unclaimed
by the apparent owner during the time set forth below for the particular property: (1) Traveler's
checks, 15 years after issuance. (2) Money order, five years after issuance. (3) A demand,
savings, or time deposit including a deposit that is automatically renewable, three years
after the earlier of maturity, as extended from time to time, or the date of the last indication
by the apparent owner of interest in the property. (4) Tangible and intangible property held
in a safe deposit box or other safekeeping depository in this state in the ordinary course
of the holder's business and proceeds resulting from the sale of the property permitted by
other law, three years after expiration of the lease or rental period on the box or other
depository. (5) Money or credits owed to a customer as a result of a retail business transaction,
one year after the obligation accrued. (6) Property in an...
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45-37A-52.163
Section 45-37A-52.163 Director of finance - Powers and duties. The director of finance shall
have general management and control of the several divisions and units of the department of
finance. He or she shall have charge, subject to the direction and control of the mayor, of
the administration of the financial affairs of the city, and to that end shall have authority
and be required to: (1) Cooperate with the mayor in compiling estimates for the general fund,
public utility, and capital budgets. (2) Supervise and control all encumbrances, expenditures,
and disbursements to insure that budget appropriations are not exceeded. (3) Prescribe and
install systems of accounts for all departments, offices, and agencies of the city and provide
instructions for their use; and prescribe the form of receipts, vouchers, bills, or claims
to be used and of accounts to be kept by all departments, offices, and agencies of the city
(4) Require daily, or at such other intervals as he or she may deem...
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11-43C-66
Section 11-43C-66 Head of division of finance - Powers and duties. The head of the division
of finance shall have general management and control of the division and of finance. He shall
have charge, subject to the direction and control of the mayor, of the administration of the
financial affairs of the city, and to that end shall have authority and be required to: (1)
Cooperate with the mayor in compiling estimates for the general fund, public utility, and
capital budgets; (2) Supervise and control all encumbrances, expenditures, and disbursements
to insure that budget appropriations are not exceeded; (3) Prescribe and install systems of
accounts for all departments, offices, and agencies of the city and provide instructions for
their use; and prescribe the form of receipts, vouchers, bills, or claims to be used and of
accounts to be kept by all departments, offices, and agencies of the city; (4) Require daily,
or at such other intervals but no longer than weekly, a report of receipts...
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