{"data":{"id":"us-ia/iowa-code-554.3408","jurisdiction":"us-ia","citation":"Iowa Code § 554.3408","heading":"Drawee not liable on unaccepted draft.","body":"A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.","path":["Title XIII - COMMERCE (Ch. 505 - 554I)","Chapter 554 - UNIFORM COMMERCIAL CODE","Article 3 - NEGOTIABLE INSTRUMENTS","Part 4 - LIABILITY OF PARTIES"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/554.3408.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:15Z","sha256":"852fa40bf58c5ba3eb33e3328829dce89d8878d20708e7fcde3457266f91583a","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-554.3407","next":"us-ia/iowa-code-554.3409"},"notice":"GroundRules: Original legal text. Not legal advice."}