Collection of Items: Depositary and Collecting Banks | Midpage

Collections
Rhode Island General Laws

2

Collection of Items: Depositary and Collecting Banks

6A-4-201Status of collecting bank as agent and provisional status of credits — Applicability of article — Item indorsed “Pay Any Bank”6A-4-202Responsibility for collection or return — When action timely 6A-4-203Effect of instructions 6A-4-204Methods of sending and presenting — Sending directly to payor bank 6A-4-205Depositary bank holder of unindorsed item 6A-4-206Transfer between banks 6A-4-207Transfer warranties 6A-4-208Presentment warranties 6A-4-209Encoding and retention warranties 6A-4-210Security interest of collecting bank in items, accompanying documents and proceeds 6A-4-211When bank gives value for purposes of holder in due course 6A-4-212Presentment by notice of item not payable by, through, or at bank — Liability of drawer or indorser 6A-4-213Medium and time of settlement by bank 6A-4-214Right of charge-back or refund — Liability of collecting bank — Return of item 6A-4-215Final payment of item by payor bank — When provisional debits and credits become final — When certain credits become available for withdrawal 6A-4-216Insolvency and preference