Ask Reggi Your Question Now
Can you summarize Article 4, Chapter 55 NMSA?
Uniform Commercial Code > Bank Deposits and Collections
Short Summary
The provided legal document content pertains to the Bank Deposits and Collections section of the New Mexico Statutes Annotated 1978 Uniform Commercial Code. This section governs the processes and regulations related to bank deposits and the collection of funds. It applies to banks and financial institutions that engage in the collection of deposits and the processing of checks and other negotiable instruments. The document does not mention any specific exemptions. The penalties for non-compliance or violation of the provisions in the Bank Deposits and Collections documents may vary depending on the specific circumstances and applicable laws. It is important for banks and financial institutions to ensure compliance with the regulations outlined in this section to avoid potential penalties or legal consequences.
Whom does it apply to?
Banks, financial institutions
What does it govern?
Bank deposits and collections
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
New Mexico