CHAPTER 404
UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
SUBCHAPTER I
GENERAL PROVISIONS AND DEFINITIONS
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.
404.110 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.
GENERAL PROVISIONS AND DEFINITIONS
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.
