This legal document governs the settlement of items by depositary and collecting banks. It specifies the medium and time of settlement for banks involved in the process. The medium of settlement can be cash or credit to an account in a federal reserve bank or a specified bank. The time of settlement varies depending on the method of tender, such as cash, credit, debit, or funds transfer. If the tender of settlement is not made through an authorized medium or the time of settlement is not fixed, the settlement is not considered final until it is accepted by the person receiving settlement.

This legal document governs the collection of items by depositary and collecting banks. It outlines the conditions under which an item is considered finally paid by a payor bank, including payment in cash, settlement without the right to revoke, and failure to revoke provisional settlement within the permitted time. The document also addresses provisional settlement between presenting and payor banks made through clearing houses or account debits/credits, which become final upon final payment by the payor bank.

This legal document governs the collection of items by payor banks. It outlines the actions that a payor bank can take if it settles for a demand item other than a documentary draft presented for immediate payment. The payor bank has the option to revoke the settlement and recover the settlement by either returning the item or sending written notice of dishonor or nonpayment. If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and revoke any credit given or recover the amount withdrawn by its customer.

This legal document governs the actions and responsibilities of payor banks in the collection of items. It states that any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank does not terminate, suspend, or modify the bank’s right or duty to pay an item or charge its customer’s account if certain conditions are met. These conditions include the bank accepting or certifying the item, paying the item in cash, settling for the item without the right to revoke the settlement, becoming accountable for the amount of the item, or reaching a cutoff hour for checks.

This legal document, part of the California Commercial Code, governs the relationship between a payor bank and its customer. It outlines the bank’s authority to charge the customer’s account for properly payable items, 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. The document also states that a customer is not liable for an overdraft if they neither signed the item nor benefited from its proceeds.

This legal document, part of the California Commercial Code, specifically addresses the relationship between a payor bank and its customer. It grants the customer or any authorized person the right to stop payment of any item drawn on the customer’s account or close the account by providing an order to the bank. The order must describe the item or account with reasonable certainty and be received by the bank in a timely manner.

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 six months after its date, but it may charge its customers account for a payment made thereafter in good faith. (Amended by Stats. 1992, Ch. 914, Sec. 43. Effective January 1, 1993.)

This legal document, part of the California Commercial Code, specifically addresses the relationship between a payor bank and its customer. It outlines the obligations of the bank when providing a statement of account to the customer, including the requirement to either return the paid items or provide sufficient information for the customer to identify them. If the items are not returned, the bank must provide a telephone number for the customer to request the items or substitutes.

The provided legal document content is from the California Commercial Code, specifically Division 4 - FUNDS TRANSFERS. This division governs funds transfers and provides definitions for various terms related to funds transfers. It applies to banks, including various types of financial institutions, and customers who have an account with a bank or from whom a bank has agreed to receive payment orders. The division defines a ‘payment order’ as an instruction from a sender to a receiving bank to pay a fixed or determinable amount of money to a beneficiary.

The provided legal document content covers various aspects related to negotiable instruments under the California Commercial Code. It includes definitions of terms used in this division, such as acceptor, drawee, drawer, maker, order, ordinary care, party, promise, prove, remitter, and more. The documents govern the negotiation, transfer, and indorsement of negotiable instruments, establishing rules for indorsements, conditions stated in indorsements, and the rights and liabilities of different parties involved in these transactions.