Bank Deposits and Collections | Midpage

Collections
Iowa Code

art-4

Bank Deposits and Collections

554.4101Short title 554.4102Applicability 554.4103Variation by agreement — measure of damages — action constituting ordinary care 554.4104Definitions and index of definitions 554.4105“Bank” — “depositary bank” — “intermediary bank” — “collecting bank” — “payor bank” — “presenting bank”554.4106Payable through or payable at bank — collecting bank 554.4107Separate office of a bank 554.4108Time of receipt of items 554.4109Delays 554.4110Electronic presentment 554.4111Statute of limitations 554.4201Status of collecting bank as agent and provisional status of credits — applicability of Article — item endorsed “pay any bank”554.4202Responsibility for collection or return — when action timely 554.4203Effect of instructions 554.4204Methods of sending and presenting — sending directly to payor bank 554.4205Depositary bank holder of unendorsed item 554.4206Transfer between banks 554.4207Transfer warranties 554.4208Presentment warranties 554.4209Encoding and retention warranties 554.4210Security interest of collecting bank in items, accompanying documents and proceeds 554.4211When bank gives value for purposes of holder in due course 554.4212Presentment by notice of item not payable by, through, or at a bank; liability of drawer or endorser 554.4213Medium and time of settlement by bank 554.4214Right of charge-back or refund — liability of collecting bank — return of item 554.4215Final payment of item by payor bank — when provisional debits and credits become final — when certain credits become available for withdrawal 554.4216Insolvency and preference 554.4301Deferred posting — recovery of payment by return of items — time of dishonor — return of items by payor bank 554.4302Payor bank’s responsibility for late return of item 554.4303When items subject to notice, stop-payment order, legal process, or setoff — order in which items may be charged or certified 554.4401When bank may charge customer’s account 554.4402Bank’s liability to customer for wrongful dishonor — time of determining insufficiency of account 554.4403Customer’s right to stop payment — burden of proof of loss 554.4404Bank not obligated to pay check more than six months old 554.4405Death or incompetence of customer 554.4406Customer’s duty to discover and report unauthorized signature or alteration 554.4407Payor bank’s right to subrogation on improper payment 554.4501Handling of documentary drafts — duty to send for presentment and to notify customer of dishonor 554.4502Presentment of “on arrival” drafts 554.4503Responsibility of presenting bank for documents and goods — report of reasons for dishonor — referee in case of need 554.4504Privilege of presenting bank to deal with goods — security interest for expenses