Kentucky Revised Statutes

Includes Enactments through the 2011 Extraordinary Session
This page was produced on 11/10/2011 at 3:09:09 PM

Terms & Conditions | PDF Viewer

KRS Chapter 355.04

Part 1.  General Provisions and Definitions

.101   Short title.

.102   Applicability.

.103   Variation by agreement -- Measure of damages -- Action constituting ordinary care.

.104   Definitions and index of definitions.

.105   "Depositary bank" -- "Payor bank" -- "Intermediary bank" -- "Collecting bank" -- "Presenting bank."

.106   Payable through or payable at bank -- Collecting bank.

.107   Separate office of a bank.

.108   Time of receipt of items.

.109   Delays.

.110   Electronic presentment.

.111   Statute of limitations.

Part 2. Collection of Items:

.201   Status of collecting bank as agent and provisional status of credits -- Applicability of article -- Item indorsed "pay any bank."

.202   Responsibility for collection or return -- When action timely.

.203   Effect of instructions.

.204   Methods of sending and presenting -- Sending directly to payor bank.

.205   Depositary bank holder of unindorsed item.

.206   Transfer between banks.

.207   Transfer warranties.

.208   Presentment warranties.

.209   Encoding and retention warranties.

.210   Security interest of collecting bank in items, accompanying documents, and proceeds.

.211   When bank gives value for purposes of holder in due course.

.212   Presentment by notice of item not payable by, through, or at bank -- Liability of drawer or indorser.

.213   Medium and time of settlement by bank.

.214   Right of charge-back or refund -- Liability of collecting bank -- Return of item.

.215   Final payment of item by payor bank -- When provisional debits and credits become final -- When certain credits become available for withdrawal.

.216   Insolvency and preference.

Part 3. Collection of Items: Payor Banks

.301   Deferred posting -- Recovery of payment by return of items -- Time of dishonor -- Return of items by payor bank.

.302   Payor bank's responsibility for late return of item.

.303   When items subject to notice, stop-payment order, legal process, or setoff -- Order in which items may be charged or certified.

Part 4. Relationship Between Payor Bank

.401   When bank may charge customer's account.

.402   Bank's liability to customer for wrongful dishonor -- Time of determining insufficiency of account.

.403   Customer's right to stop payment -- Burden of proof of loss.

.404   Bank not obligated to pay check more than six months old.

.405   Death or incompetence of customer.

.406   Customer's duty to discover and report unauthorized signature or alteration.

.407   Payor bank's right to subrogation on improper payment.

Part 5. Collection of Documentary Drafts

.501   Handling of documentary drafts -- Duty to send for presentment and to notify customer of dishonor.

.502   Presentment of "on arrival" drafts.

.503   Responsibility of presenting bank for documents and goods -- Report of reasons for dishonor -- Referee in case of need.

.504   Privilege of presenting bank to deal with goods -- Security interest for expenses.

Previous Chapter |Next Chapter | Title Headings