Collection of Items: Depositary and Collecting Banks | Midpage

Collections
Connecticut General Statutes

Part 2

Collection of Items: Depositary and Collecting Banks

42a-4-201Status of collecting bank as agent and provisional status of credits. Applicability of article. Item endorsed “pay any bank”.42a-4-202Responsibility for collection or return. When action timely.42a-4-203Effect of instructions.42a-4-204Methods of sending and presenting. Sending directly to payor bank.42a-4-205Depositary bank holder of unendorsed item.42a-4-206Transfer between banks.42a-4-207Transfer warranties.42a-4-208Presentment warranties.42a-4-209Encoding and retention warranties.42a-4-210Security interest of collecting bank in items, accompanying documents and proceeds.42a-4-211When bank gives value for purposes of holder in due course.42a-4-212Presentment by notice of item not payable by, through or at bank. Liability of drawer or endorser.42a-4-213Medium and time of settlement by bank.42a-4-214Right of charge-back or refund. Liability of collecting bank. Return of item.42a-4-215Final payment of item by payor bank. When provisional debits and credits become final. When certain credits become available for withdrawal.42a-4-216Insolvency and preference.