Collection of Items: Depositary and Collecting Banks | Midpage

Collections
Maryland Code

2

Collection of Items: Depositary and Collecting Banks

State of Maryland

4-201Presumption and duration of agency status of collecting banks and provisional status of credits; applicability of title; item indorsed “pay any bank”4-202Responsibility for collection; when action seasonable 4-203Effect of instructions 4-204Methods of sending and presenting; sending direct to payor bank 4-205Responsibilities of depository bank at time item is delivered for collection 4-206Transfer between banks 4-207Warrants made to transferee 4-208Warranties associated with unaccepted drafts 4-209Warranties pursuant to electronic presentment 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 a bank; liability of secondary parties 4-213Medium and time of settlement by a bank 4-214Right of charge-back or refund 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