Can you summarize 11 MERS Section 4-301?
This legal document, part of the Maine Revised Statutes under the Uniform Commercial Code, pertains to the collection of items by payor banks. It outlines the actions a payor bank can take in certain situations. If a payor bank settles for a demand item other than a documentary draft presented before midnight of the banking day of receipt, it may revoke the settlement and recover the settlement by returning the item or sending written notice of dishonor or nonpayment.
Can you summarize 11 MERS Section 4-303?
This legal document, found in the Maine Revised Statutes under the Uniform Commercial Code, specifically pertains to the collection of items by payor banks. It states that any knowledge, notice, stop-payment order, or legal process received by the bank does not 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. 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 under specific circumstances, or reaching a cutoff hour for checks.
Can you summarize 11 MERS Section 4-401?
This legal document, part of the Maine Revised Statutes, specifically addresses the relationship between a payor bank and its customer regarding bank deposits and collections. According to this document, a bank has the authority to charge a customer’s account for an item that is properly payable from that 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.
Can you summarize 11 MERS Section 4-403?
This provision, found in the Maine Revised Statutes under the Uniform Commercial Code, pertains to the rights of customers and authorized persons to stop payment of items drawn on a customer’s account or close the account. The customer or authorized person may issue an order to the bank to stop payment or close the account, providing a description of the item or account with reasonable certainty. The stop-payment order is effective for 6 months, but lapses after 14 calendar days if the original order was oral and not confirmed in writing.
Can you summarize 11 MERS Section 4-404?
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.
Can you summarize 11 MERS Section 4-406?
This legal document, part of the Maine Revised Statutes under the Uniform Commercial Code, pertains to the relationship between a payor bank and its customer regarding bank deposits and collections. It outlines the customer’s duty to discover and report unauthorized signatures or alterations on items paid by the bank. The document states that the bank must either return the items paid or provide sufficient information in the statement of account for the customer to identify the items.
Can you summarize 14 MERS Part 7, Chapter 712?
This legal document governs the civil liability for bad checks in the state of Maine. It applies to individuals who have issued a check, draft, or order that has not been accepted for payment by the designated drawee bank. The document requires these individuals to be notified and provides a 10-day period for them to pay the amount of the check. If the payment is not made within the specified time, the individual may be liable for additional costs, including attorney’s fees, service costs, processing charges, interest, and a penalty not exceeding $150.
Can you summarize 17 MERS Chapter 14?
The provided legal document content pertains to games of chance in the state of Maine. It includes repealed sections and their history, indicating changes made over time. The document does not mention any specific exemptions. The penalties for non-compliance or violation of these laws may include fines and imprisonment. Overall, the document governs the regulation and conduct of games of chance in Maine and applies to all individuals and entities involved in such activities.
Can you summarize 17 MERS Chapter 61?
The provided legal document content pertains to gambling laws in Maine. It appears to be a repealed section of the Maine Revised Statutes under the Crimes category. The document does not provide specific details about the provisions of the repealed section or its applicability. However, based on the title, it can be inferred that the document governed gambling activities in Maine. The document would have applied to all individuals and entities involved in gambling activities within the state.
Can you summarize 17 MERS Chapter 62?
This legal document governs games of chance, card games, tournament games, and raffles in the state of Maine. It grants the Gambling Control Unit the authority to adopt rules for the administration and enforcement of this chapter, as well as for the licensing, registration, conduct, and operation of games of chance. The document sets forth conduct, conditions, and activities considered undesirable, including fraud, conducting games in unsafe premises, obscene advertising or solicitation, infiltration of organized crime, presence of disorderly persons during game conduct, leasing of equipment not in accordance with the chapter, and the establishment of organizations primarily operating games without a bona fide nonprofit purpose.