{"data":{"id":"us-ms/miss.-code-ann.-75-4-301","jurisdiction":"us-ms","citation":"Miss. Code Ann. § 75-4-301","heading":"Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.","body":"(a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it:\n(1) Returns the item;\n(2) Returns an image of the item, if the party to which the return is made has entered into an agreement to accept an image as a return of the item and the image is returned in accordance with that agreement; or\n(3) Sends a record providing notice of dishonor or nonpayment if the item is unavailable for return.\n(b) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection (a).\n(c) Unless previous notice of dishonor has been sent, an item is dishonored at the time when for purposes of dishonor it is returned or notice sent in accordance with this section.\n(d) An item is returned:\n(1) As to an item presented through a clearinghouse, when it is delivered to the presenting or last collecting bank or to the clearinghouse or is sent or delivered in accordance with clearinghouse rules; or\n(2) In all other cases, when it is sent or delivered to the bank’s customer or transferor or pursuant to instructions.","path":["Title 75. Regulation of Trade, Commerce and Investments","Chapter 4. Uniform Commercial Code—Bank Deposits and Collections","Part 3. Collection of Items: Payor 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":"ab469da535cb71ec6786beaed9d93dc3c89524d8d6d45a193b14dfe4e1e65b43","source_id":"us-ms","stale":false,"prev":"us-ms/miss.-code-ann.-75-4-216","next":"us-ms/miss.-code-ann.-75-4-302","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."}