Collection of Items: Depositary and Collecting Banks | Midpage

Collections
Code of Alabama

Part 2

Collection of Items: Depositary and Collecting Banks

7-4-201Status of Collecting Bank as Agent and Provisional Status of Credits, Applicability of Article; Item Indorsed “Pay Any Bank.”7-4-202Responsibility for Collection or Return; When Action Timely.7-4-203Effect of Instructions.7-4-204Methods of Sending and Presenting; Sending Directly to Payor Bank.7-4-205Depositary Bank Holder of Unindorsed Item.7-4-206Transfer Between Banks.7-4-207Transfer Warranties.7-4-208Presentment Warranties.7-4-209Encoding and Retention Warranties.7-4-210Security Interest of Collecting Bank in Items, Accompanying Documents, and Proceeds.7-4-211When Bank Gives Value for Purposes of Holder in Due Course.7-4-212Presentment by Notice of Item Not Payable By, Through, or at Bank; Liability of Drawer or Indorser.7-4-213Medium and Time of Settlement by Bank.7-4-214Right of Charge-Back or Refund; Liability of Collecting Bank; Return of Item.7-4-215Final Payment of Item by Payor Bank; When Provisional Debits and Credits Become Final; When Certain Credits Become Available for Withdrawal.7-4-216Insolvency and Preference.