Collection Of Items: Depositary And Collecting Banks
This is Part 2 of the Code of Virginia, titled “Collection Of Items: Depositary And Collecting Banks.” It is part of Title 8.4, titled “Commercial Code -- Bank Deposits And Collections.” It’s comprised of the following 19 sections.
- § 8.4-201
- Status of collecting bank as agent and provisional status of credits; applicability of title; item endorsed "pay any bank."
- § 8.4-202
- Responsibility for collection or return; when action timely
- § 8.4-203
- Effect of instructions
- § 8.4-204
- Methods of sending and presenting; sending directly to payor bank
- § 8.4-205
- Repealed
- § 8.4-205.1
- Depositary bank holder of unendorsed item
- § 8.4-206
- Transfer between banks
- § 8.4-207
- Repealed
- § 8.4-207.1
- Transfer warranties
- § 8.4-207.2
- Presentment warranties
- § 8.4-207.3
- Encoding and retention warranties
- § 8.4-208
- Security interest of collecting bank in items, accompanying documents and proceeds
- § 8.4-209
- When bank gives value for purposes of holder in due course
- § 8.4-210
- Presentment by notice of item not payable by, through or at a bank; liability of drawer or endorser
- § 8.4-211
- Repealed
- § 8.4-211.1
- Medium and time of settlement by bank
- § 8.4-212
- Right of charge-back or refund; liability of collecting banks; return of item
- § 8.4-213
- Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal
- § 8.4-214
- Insolvency and preference