CHAPTER 404
UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
SUBCHAPTER I
GENERAL PROVISIONS AND DEFINITIONS
404.102   Applicability.
404.103   Variation by agreement; measure of damages; action constituting ordinary care.
404.104   Definitions and index of definitions.
404.105   “Bank"; “collecting bank"; “depository bank"; “intermediary bank"; “payer bank"; “presenting bank".
404.106   Payable through or payable at bank; collecting bank.
404.107   Separate office of a bank.
404.108   Time of receipt of items.
404.109   Delays.
404.110   Electronic presentment.
404.111   Statute of limitations.
SUBCHAPTER II
COLLECTION OF ITEMS:
DEPOSITARY AND COLLECTING BANKS
404.201   Status of collecting bank as agent and provisional status of credits; applicability of chapter; item endorsed “pay any bank".
404.202   Responsibility for collection or return; when action timely.
404.203   Effect of instructions.
404.204   Methods of sending and presenting; sending directly to payer bank.
404.205   Depositary bank holder of unendorsed item.
404.206   Transfer between banks.
404.207   Transfer warranties.
404.208   Presentment warranties.
404.209   Encoding and retention warranties.
404.210   Security interest of collecting bank in items, accompanying documents and proceeds.
404.211   When bank gives value for purposes of holder in due course.
404.212   Presentment by notice of item not payable by, through or at a bank; liability of drawer or endorser.
404.213   Medium and time of settlement by bank.
404.214   Right of charge-back or refund; liability of collecting bank; return of item.
404.215   Final payment of item by payer bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
404.216   Insolvency and preference.
SUBCHAPTER III
COLLECTION OF ITEMS: PAYER BANKS
404.301   Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payer bank.
404.302   Payer bank's responsibility for late return of item.
404.303   When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified.
SUBCHAPTER IV
RELATIONSHIP BETWEEN PAYER BANK AND ITS CUSTOMER
404.401   When bank may charge customer's account.
404.402   Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
404.403   Customer's right to stop payment; burden of proof of loss.
404.404   Bank not obligated to pay check more than 6 months old.
404.405   Death or incompetence of customer.
404.406   Customer's duty to discover and report unauthorized signature or alteration.
404.407   Payer bank's right to subrogation on improper payment.
SUBCHAPTER V
COLLECTION OF DOCUMENTARY DRAFTS
404.501   Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
404.502   Presentment of “on arrival" drafts.
404.503   Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
404.504   Privilege of presenting bank to deal with goods; security interest for expenses.
Ch. 404 Cross-reference Cross-reference: See definitions in s. 401.201.
subch. I of ch. 404 SUBCHAPTER I
GENERAL PROVISIONS AND DEFINITIONS
404.102 404.102 Applicability.
404.102(1)(1) The extent that items within this chapter are also within chs. 403 and 408, they are subject to those chapters. If there is conflict, this chapter governs ch. 403, but ch. 408 governs this chapter.
404.102(2) (2) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment or collection is governed by the law of the place where the bank is located. In the case of action or nonaction 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.
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2015-16 Wisconsin Statutes updated through 2017 Wis. Act 2 and all Supreme Court and Controlled Substances Board Orders effective on or before March 27, 2017. Published and certified under s. 35.18. Changes effective after March 27, 2017 are designated by NOTES. (Published 3-27-17)