{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4-301","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4-301","heading":"Deferred Posting; Recovery of Payment by Return of","body":"Items; Time of Dishonor; Return of Items by Payor Bank.\n\nDEFERRED POSTING; RECOVERY OF PAYMENT BY RETURN OF ITEMS;\n\nTIME OF DISHONOR; RETURN OF ITEMS BY PAYOR BANK\n\n(a) If a payor bank settles for a demand item other than a\n\ndocumentary draft presented otherwise than for immediate payment\n\nover the counter before midnight of the banking day of receipt, the\n\npayor bank may revoke the settlement and recover the settlement if,\n\nbefore it has made final payment and before its midnight deadline,\n\nit:\n\n(1) Returns the item;\n\n(2) Returns an image of the item, if the party to which\n\nthe return is made has entered into an agreement to\n\naccept an image as a return of the item and the image\n\nis returned in accordance with that agreement; or\n\n(3) Sends a record providing notice of dishonor or\n\nnonpayment if the item is unavailable for return.\n\n(b) If a demand item is received by a payor bank for credit on\n\nits books, it may return the item or send notice of dishonor and may\n\nrevoke any credit given or recover the amount thereof withdrawn by\n\nits customer, if it acts within the time limit and in the manner\n\nspecified in subsection (a) of this section.\n\n(c) Unless previous notice of dishonor has been sent an item is\n\ndishonored at the time when for purposes of dishonor it is returned\n\nor notice sent in accordance with this section.\n\n(d) An item is returned:\n\n(1) As to an item presented through a clearing-house, when\n\nit is delivered to the presenting or last collecting\n\nbank or to the clearing-house or is sent or delivered\n\nin accordance with clearing-house rules; or\n\n(2) In all other cases, when it is sent or delivered to\n\nthe bank's customer or transferor or pursuant to\n\ninstructions.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"87a047fbf562ca2c25402683e3a116cdc20711762ea57c5e29c099f852398348","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4-216","next":"us-ok/okla.-stat.-tit.-12a-12a-4-302"},"notice":"GroundRules: Original legal text. Not legal advice."}