Page:United States Statutes at Large Volume 77.djvu/727

 [77 STAT.

PUBLIC LAW 88-243-DEC. 30, 1963

695

ARTICLE 4—BANK DEPOSITS AND COLLECTIONS—Continued P A U T 3—COM-ECTION Of ITEMS: PAYOR BANKS See.

28:4—801. Deferred posting; recovery of paj'iuent by return of iteui.><; time of dishonor. 2S:4—302. Payor banlc's responsibility for late return of item. 28:-l—303. When items subject to notice, stop-order, legal process or setoff; order in which items may be charged or certified. PART 4—RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

28:4—401. 28:4—402. 28:4—403. 28:4—404. 28:4—405. 28:4—406.

When bank may charge customer's account. Bank's liability to customer for wrongful dishonor. Customer's right to stop payment; burden of proof of loss. Bank not obligated to pay check more than six months old. Death or incompetence of customer. Customer's duty to discover and report unauthorized signaifurc or alteration. 28:4—407. Payor bank's right to subrogation on improper payment. PART.'»—COIXECTION OF DOCUMENTARY DHAETS

28:4—501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor. 28:4—502. Presentment of "on arrival" drafts. 28:4—503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in ease of need. 28:4—504. Privilege of presenting bank to deal with goodi; security interest for expe;ises.

PART 1—GENERAL PROVISIONS AND DEFINITIONS §28:4—lOL Short title This article shall be known and may be cited as Uniform Commercial Code—Bank Deposits and Collections. §28:4—102. Applicability (1) To the extent that items within this article are also within the scope of articles 3 and 8, the'y are subject to the provisions of those articles. In the event of conflict the provisions of this article govern those of article 3 but the provisions of article 8 govern those of this article. (2) The liability of a bank for action or non-action with respect to any item handled by it for purposes of presentment, payment or collection is governed by the law of the place where the oank is located. In the case of action or non-action by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located. §28:4—103. Variation by agreement; measure of damages; certain action constituting ordinary care (1) The effect of the provisions of this article may be varied by agreement except that no agreement can disclaim a bank's responsibility for its own lack of good faith or failure to exercise ordinary care or can limit the measure of damages for such lack or failure: but the parties may by agreement determine the standards by which such responsibility is to be measured if such standards are not manifestly unreasonable. (2) Federal Reserve regulations and operating letters, clearing house rules, and the like, have the effect of agreements under subsection (1), whether or not specifically assented to by all parties interested in items handled.

Citation of article.

�