GroundRules
D.C. Code § 28:4-205: Depositary bank holder of unindorsed item.
Where this section sits in the code
- Title 28. Commercial Instruments and Transactions. [Enacted title]
- Subtitle I. Uniform Commercial Code.
- Article 4. Bank Deposits and Collections.
- Part 2. Collection of Items: Depositary and Collecting Banks.
If a customer delivers an item to a depositary bank for collection:
(1)
The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of section 28:3-302, it is a holder in due course; and
(2)
The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account.
Collected 2026-08-29T05:44:07Z. Source file · JSON