Bank Deposits and Collections | Midpage

Collections
Massachusetts General Laws

Article 4

Bank Deposits and Collections

4-101Short Title 4-102Applicability 4-103Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care 4-104Definitions and Index of Definitions 4-105Bank; Depositary Bank; Payor Bank; Intermediary Bank; Collecting Bank; Presenting Bank 4-106Payable Through or Payable at Bank; Collecting Bank 4-107Separate Office of Bank 4-108Time of Receipt of Items 4-109Delays 4-110Electronic Presentment 4-111Statute of Limitations 4-201Status of Collecting Bank as Agent and Provisional Status of Credits; Applicability of Article; Item Indorsed Pay Any Bank 4-202Responsibility for Collection or Return; When Action Timely 4-203Effect of Instructions 4-204Methods of Sending and Presenting; Sending Direct to Payor Bank 4-205Depositary Bank Holder of Unindorsed Item 4-206Transfer Between Banks 4-207Transfer Warranties 4-208Presentment Warranties 4-209Encoding and Retention Warranties 4-210Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds 4-211When Bank Gives Value for Purposes of Holder in Due Course 4-212Presentment by Notice of Item not Payable by, through, or at Bank; Liability of Drawer or Indorser 4-213Medium and Time of Settlement by Bank 4-214Right of Charge–Back or Refund; Liability of Collecting Bank; Return of Item 4-215Final Payment of Item by Payor Bank; When Provisional Debits and Credits Become Final; When Certain Credits Become Available for Withdrawal 4-216Insolvency and Preference 4-301Deferred Posting; Recovery of Payment by Return of Items; Time of Dishonor; Return of Items by Payor Bank 4-302Payor Bank's Responsibility for Late Return of Item 4-303When Items Subject to Notice, Stop-Payment Order, Legal Process, or Setoff; Order in Which Items may be Charged or Certified 4-401When Bank May Charge Customer's Account 4-402Bank's Liability to Customer for Wrongful Dishonor; Time of Determining Insufficiency of Account 4-403Customer's Right to Stop Payment; Burden of Proof of Loss 4-404Bank Not Obliged to Pay Check More Than Six Months Old 4-405Death or Incompetence of Customer 4-406Customer's Duty to Discover and Report Unauthorized Signature or Alteration 4-407Payor Bank's Right to Subrogation on Improper Payment 4-501Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor 4-502Presentment of ''On Arrival'' Drafts 4-503Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case of Need 4-504Privilege of Presenting Bank to Deal with Goods; Security Interest for Expenses