Title 11, Article 4: BANK DEPOSITS AND COLLECTIONS

Title 11, Article 4: BANK DEPOSITS AND COLLECTIONS

Part 1: GENERAL PROVISIONS AND DEFINITIONS

11 §4-101. Short title

11 §4-102. Applicability

11 §4-103. Variation by agreement; measure of damages; action constituting ordinary care

11 §4-104. Definitions and index of definitions

11 §4-105. "Depositary bank"; "bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"

11 §4-105-A. Payable through or payable at bank; collecting bank

11 §4-106. Separate office of a bank

11 §4-107. Time of receipt of items

11 §4-108. Delays

11 §4-109. Process of posting (REPEALED)

11 §4-110. Electronic presentment

11 §4-111. Statute of limitations

Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS

11 §4-201. Status of collecting bank as agent and provisional status of credits; applicability of Article; item indorsed "pay any bank"

11 §4-202. Responsibility for collection or return; when action timely

11 §4-203. Effect of instructions

11 §4-204. Methods of sending and presenting; sending directly to payor bank

11 §4-205. Depositary bank holder of unindorsed item

11 §4-206. Transfer between banks

11 §4-207. Warranties of customer and collecting bank on transfer or presentment of items; time for claims (REPEALED)

11 §4-207-A. Transfer warranties

11 §4-207-B. Presentment warranties

11 §4-207-C. Encoding and retention warranties

11 §4-208. Security interest of collecting bank in items, accompanying documents and proceeds

11 §4-209. When bank gives value for purposes of holder in due course

11 §4-210. Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser

11 §4-211. Media of remittance; provisional and final settlement in remittance cases (REPEALED)

11 §4-211-A. Medium and time of settlement by bank

11 §4-212. Right of charge-back or refund; liability of collecting bank; return of item

11 §4-213. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal

11 §4-214. Insolvency and preference

Part 3: COLLECTION OF ITEMS: PAYOR BANKS

11 §4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank

11 §4-302. Payor bank's responsibility for late return of item

11 §4-303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified

Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER

11 §4-401. When bank may charge customer's account

11 §4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account

11 §4-403. Customer's right to stop payment; burden of proof of loss

11 §4-404. Bank not obligated to pay check more than 6 months old

11 §4-405. Death or incompetence of customer

11 §4-406. Customer's duty to discover and report unauthorized signature or alteration

11 §4-407. Payor bank's right to subrogation on improper payment

Part 5: COLLECTION OF DOCUMENTARY DRAFTS

11 §4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

11 §4-502. Presentment of "on arrival" drafts

11 §4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need

11 §4-504. Privilege of presenting bank to deal with goods; security interest for expenses

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Office of the Revisor of Statutes · 7 State House Station · State House Room 108 · Augusta, Maine 04333-0007

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