{"data":{"id":"us-ms/miss.-code-ann.-75-4-202","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 75-4-202","heading":"Responsibility for collection or return; when action timely.","body":"(a) A collecting bank must exercise ordinary care in:\n(1) Presenting an item or sending it for presentment;\n(2) Sending notice of dishonor or nonpayment or returning an item other than a documentary draft to the bank’s transferor after learning that the item has not been paid or accepted, as the case may be;\n(3) Settling for an item when the bank receives final settlement; and\n(4) Notifying its transferor of any loss or delay in transit within a reasonable time after discovery thereof.\n(b) A collecting bank exercises ordinary care under subsection (a) by taking proper action before its midnight deadline following receipt of an item, notice, or settlement. Taking proper action within a reasonably longer time may constitute the exercise of ordinary care, but the bank has the burden of establishing timeliness.\n(c) Subject to subsection (a)(1), a bank is not liable for the insolvency, neglect, misconduct, mistake, or default of another bank or person or for loss or destruction of an item in the possession of others or in transit.","path":["Title 75. Regulation of Trade, Commerce and Investments","Chapter 4. Uniform Commercial Code—Bank Deposits and Collections","Part 2. Collection of Items: Depositary and Collecting Banks."],"source_url":"https://archive.org/download/gov.ms.code.ann.2018/release78.2020.07.08/gov.ms.code.title.75.odt","current_through":"2020-07-08","vintage":"Mississippi Code Release 78 (2020-07), retrieved 2026-09-17","retrieved_at":"2026-10-27T05:54:13Z","sha256":"711150150d753de34c9e15cc45f8114216816f7173639745a38546fd2e2a739b","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-75-4-201","next":"us-ms/miss.-code-ann.-75-4-203","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ms","title":"Mississippi Release 78 supplement","text":"Mississippi electronic product files were republished by Public.Resource.Org under a public-domain dedication. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ms.code.ann.2018"}]},"notice":"GroundRules: Original legal text. Not legal advice."}