{"data":{"id":"us-ky/krs-355.3-312","jurisdiction":"us-ky","citation":"KRS 355.3-312","heading":"Lost, destroyed, or stolen cashier's check, teller's check, or certified","body":"check.\n(1) In this section:\n(a) \"Check\" means a cashier's check, teller's check, or certified check;\n(b) \"Claimant\" means a person who claims the right to receive the amount of  a\ncashier's check, teller's check, or certified check that was lost, destroyed, or\nstolen;\n(c) \"Declaration of loss\" means a statement, made in a record under penalty of\nperjury, to the effect that:\n1. The declarer lost possession of a check;\n2. The decla rer is the drawer or payee of the check, in the case of a\ncertified check, or the remitter or payee of the check, in the case of a\ncashier's check or teller's check;\n3. The loss of possession was not the result of a transfer by the declarer or\na lawful seizure; and\n4. The declarer cannot reasonably obtain possession of the check because\nthe check was destroyed, its whereabouts cannot be determined, or it is\nin the wrongful possession of an unknown person or a person that\ncannot be found or is not amenable to service of process; and\n(d) \"Obligated bank\" means the issuer of a cashier's check or teller's check or the\nacceptor of a certified check.\n(2) (a) A claimant may assert a claim to the amount of a check by a communication\nto the obligated bank describing the check with reasonable certainty and\nrequesting payment of the amount of the check, if:\n1. The claimant is the drawer or payee of a certified check or the remitter\nor payee of a cashier's check or teller's check;\n2. The communication contains or is accompanied by a declaration of loss\nof the claimant with respect to the check;\n3. The communication is received at a time and in a manner affording the\nbank a reasonable time to act on it before the check is paid; and\n4. The claimant provides reasonable identification if requested by the\nobligated bank. Delivery of a declaration of loss is a warranty of the\ntruth of the statements made in the declaration.\n(b) If a claim is asserted in compliance with this subsection, the fo llowing rules\napply:\n1. The claim becomes enforceable at the later of:\na. The time the claim is asserted, or\nb. The ninetieth day following the date of the check, in the case of a\ncashier's check or teller's check, or the ninetieth day following the\ndate of the acceptance, in the case of a certified check;\n2. Until the claim becomes enforceable, it has no legal effect and the\nobligated bank may pay the check or, in the case of a teller's check, may\npermit the drawee to pay the check. Payment to a person ent itled to\nenforce the check discharges all liability of the obligated bank with\nrespect to the check;\n3. If the claim becomes enforceable before the check is presented for\npayment, the obligated bank is not obliged to pay the check; and\n4. When the claim be comes enforceable, the obligated bank becomes\nobliged to pay the amount of the check to the claimant if payment of the\ncheck has not been made to a person entitled to enforce the check.\nSubject to KRS 355.4 -302(1)(a), payment to the claimant discharges all\nliability of the obligated bank with respect to the check.\n(3) If the obligated bank pays the amount of a check to a claimant under subsection\n(2)(b)4. of this section and the check is presented for payment by a person having\nrights of a holder in due course, the claimant is obliged to:\n(a) Refund the payment to the obligated bank if the check is paid; or\n(b) Pay the amount of the check to the person having rights of a holder in due\ncourse if the check is dishonored.\n(4) If a claimant has the right to asse rt a claim under subsection (2) of this section and\nis also a person entitled to enforce a cashier's check, teller's check, or certified check\nwhich is lost, destroyed, or stolen, the claimant may assert rights with respect to the\ncheck either under this section or KRS 355.3-309.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33470","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:44Z","sha256":"4d9d3d702a9f56189c2a9b3fd7d91a4ed6617a333eecfd9c60ad697e92015cae","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.3-311","next":"us-ky/krs-355.3-401"},"notice":"GroundRules: Original legal text. Not legal advice."}