MCL - 174-1962-4-2
Act 174 of 1962
COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
| Document | Type | Description |
|---|---|---|
| Section 440.4201 | Section | Agency status of banks; provisional status of credits; applicability of article; endorsement with pay any bank. |
| Section 440.4202 | Section | Collecting bank; duties; exercising ordinary care; liability. |
| Section 440.4203 | Section | Collecting bank; instructions from transferor. |
| Section 440.4204 | Section | Collecting bank; methods of sending items; presentment. |
| Section 440.4205 | Section | Depositary bank; item delivered by customer for collection. |
| Section 440.4206 | Section | Transfer between banks. |
| Section 440.4207 | Section | Warranties of customer and collecting bank on transfer of items; accrual of cause of action. |
| Section 440.4208 | Section | Presentment of unaccepted or dishonored draft; warranties of person obtaining payment and prior transferor; discharge; accrual of cause of action. |
| Section 440.4209 | Section | Electronic presentment; encoding of information and retaining items; warranties; recovery of damages, expenses, and loss of interest. |
| Section 440.4210 | Section | Security interest of collecting bank in items, accompanying documents, or proceeds. |
| Section 440.4211 | Section | Bank with security interest as holder in due course. |
| Section 440.4212 | Section | Presentment by notice of item not payable by, through, or at a bank; treating item as dishonored. |
| Section 440.4213 | Section | Settlement; medium and time. |
| Section 440.4214 | Section | Right to charge-back or refund. |
| Section 440.4215 | Section | Final payment of items by payor bank; final credit; availability of credit for withdrawal. |
| Section 440.4216 | Section | Payor or collecting bank; suspension of payments. |