This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the right of charge-back or refund, as well as the liability of collecting banks and the return of items. It applies to collecting banks and their customers. According to the document, if a collecting bank has made provisional settlement with its customer for an item but fails to receive a final settlement for the item due to dishonor, suspension of payments by a bank, or other reasons, the bank may revoke the settlement, charge back the amount credited to the customer’s account, or obtain a refund from the customer.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the final payment of an item by a payor bank, as well as the timing for when provisional debits and credits become final and when certain credits become available for withdrawal. It applies to payor banks, presenting banks, successive prior collecting banks, and collecting banks involved in the settlement of items. The document specifies that an item is finally paid by a payor bank when it is paid in cash, settled without the right to revoke settlement, or when provisional settlement is made and not revoked within the permitted time.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the topics of insolvency and preference. It outlines specific scenarios and obligations related to the possession and payment of items by payor banks, collecting banks, receivers, trustees, agents in charge of closed banks, presenting banks, and closed bank’s customers. The document states that if an item is in the possession of a payor or collecting bank that suspends payment and the item has not been finally paid, it must be returned to the presenting bank or the closed bank’s customer.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the procedures and requirements related to deferred posting, recovery of payment by return of items, time of dishonor, and return of items by payor banks. It outlines the conditions under which a payor bank may revoke a settlement and recover the settlement amount before making final payment. The document also specifies the actions a payor bank can take upon receiving a demand item for credit on its books, including returning the item or sending notice of dishonor.

This legal provision, found in the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, outlines the responsibility of a payor bank for the late return of an item. If a payor bank receives an item, it is accountable for the amount of the item unless certain conditions are met. The bank must settle for the item or pay, return, or send notice of dishonor for the item within the specified timeframes.

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the treatment of items subject to notice, stop-payment order, legal process, or setoff, as well as the order in which these items may be charged or certified. It applies to payor banks and their customers. According to the document, any knowledge, notice, stop-payment order, or legal process received by the payor bank comes too late to terminate, suspend, or modify the bank’s right or duty to pay an item or charge the customer’s account if certain conditions are met.

This legal document, part of the Nevada Revised Statutes, specifically addresses the circumstances under which a bank may charge a customer’s account. According to the document, a bank is allowed to charge any item that is properly payable from the customer’s account, even if it creates an overdraft. An item is considered properly payable if it is authorized by the customer and complies with any agreement between the customer and the bank.

This legal document pertains to the liability of a payor bank to its customer for wrongful dishonor of an item. The payor bank wrongfully dishonors an item if it dishonors an item that is properly payable, unless it has agreed to pay the overdraft. The payor bank is liable to its customer for damages caused by the wrongful dishonor, which may include actual damages, damages for arrest or prosecution of the customer, or other consequential damages.

This provision, part of the Nevada Revised Statutes under the Uniform Commercial Code, grants customers or authorized persons the right to stop payment of any item drawn on the customer’s account or close the account. The order to stop payment or close the account must be provided to the bank with reasonable certainty and within a reasonable time before certain events occur. If more than one person’s signature is required to draw on the account, any of these persons may stop payment or close the account.

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 customers account for a payment made thereafter. (Added to NRS by 1965, 851)