Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

Can you summarize MICL 440.4404?

PART 4 RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER (440.4401...440.4407) > Payment of checks more than 6 months old.

Short Summary

Sec. 4404. A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than 6 months after its date, but it may charge its customer’s account for a payment made thereafter in good faith. History: 1962, Act 174, Eff. Jan. 1, 1964

Jurisdiction

Michigan

Source
MICL 440.4404 [https://reggi.cloud.regology.com/regulations/US-MICL/US-MICL_C_440_SC_174-1962_P_174-1962-4_P_174-1962-4-4_S_440.4404]