Alabama Code (Last Updated: November 28, 2014) |
Title7 COMMERCIAL CODE. |
Article4. BANK DEPOSITS AND COLLECTIONS. |
Part 1. General Provisions and Definitions. |
§ 7-4-101. Short title. |
§ 7-4-102. Applicability. |
§ 7-4-103. Variation by agreement; measure of damages; action constituting ordinary care. |
§ 7-4-104. Definitions and index of definitions. |
§ 7-4-105. "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank." |
§ 7-4-106. Payable through or payable at bank; collecting bank. |
§ 7-4-107. Separate office of bank. |
§ 7-4-108. Time of receipt of items. |
§ 7-4-109. Delays. |
§ 7-4-110. Electronic presentment. |
§ 7-4-111. Statute of limitations; accrual of action. |
Part 2. Collection of Items: Depositary and Collecting Banks. |
§ 7-4-201. Status of collecting bank as agent and provisional status of credits, applicability of article; item indorsed "pay any bank." |
§ 7-4-202. Responsibility for collection or return; when action timely. |
§ 7-4-203. Effect of instructions. |
§ 7-4-204. Methods of sending and presenting; sending directly to payor bank. |
§ 7-4-205. Depositary bank holder of unindorsed item. |
§ 7-4-206. Transfer between banks. |
§ 7-4-208. Presentment warranties. |
§ 7-4-207. Transfer warranties. |
§ 7-4-209. Encoding and retention warranties. |
§ 7-4-210. Security interest of collecting bank in items, accompanying documents, and proceeds. |
§ 7-4-211. When bank gives value for purposes of holder in due course. |
§ 7-4-212. Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser. |
§ 7-4-213. Medium and time of settlement by bank. |
§ 7-4-214. Right of charge-back or refund; liability of collecting bank; return of item. |
§ 7-4-215. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal. |
§ 7-4-216. Insolvency and preference. |
Part 3. Collection of Items: Payor Banks. |
§ 7-4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank. |
§ 7-4-302. Payor bank's responsibility for late return of item. |
§ 7-4-303. 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 and Its Customer. |
§ 7-4-401. When bank may charge customer's account. |
§ 7-4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account. |
§ 7-4-403. Customer's right to stop payment; burden of proof of loss. |
§ 7-4-404. Bank not obligated to pay check more than six months old. |
§ 7-4-405. Death or incompetence of customer. |
§ 7-4-406. Customer's duty to discover and report unauthorized signature or alteration. |
§ 7-4-407. Payor bank's right to subrogation on improper payment. |
Part 5. Collection of Documentary Drafts. |
§ 7-4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor. |
§ 7-4-502. Presentment of "on arrival" drafts. |
§ 7-4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need. |
§ 7-4-504. Privilege of presenting bank to deal with goods; security interest for expenses. |