This legal document, part of the Vermont Statutes Uniform Commercial Code, pertains to the rights of customers or authorized persons to stop payment of any item drawn on their account or close the account. The customer or authorized person must provide an order to the bank with a clear description of the item or account, allowing the bank a reasonable opportunity to act on it. If multiple signatures are required to draw on the account, any of the authorized 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 six months after its date, but it may charge its customer’s account for a payment made thereafter in good faith. (Added 1993, No. 158 (Adj. Sess.), 13, eff. Jan. 1, 1995.)

This legal document, part of the Vermont Statutes Uniform Commercial Code, specifically addresses the duty of customers to discover and report unauthorized signatures or alterations. It outlines the responsibilities of banks in returning items shown as paid on a statement of accounts or providing sufficient information for customers to identify paid items. The document also emphasizes the importance of prompt examination of statements or items by customers to identify unauthorized payments.

This legal document, part of the Vermont Statutes Uniform Commercial Code on Leases, governs the exclusion or modification of warranties in lease contracts. It provides guidelines on the creation and negation of express warranties, as well as the exclusion or modification of implied warranties of merchantability and fitness. The document states that language excluding or modifying warranties must be in writing and conspicuous. It also outlines circumstances where implied warranties may be excluded, such as when the lessee has examined the goods or when there is a course of dealing, course of performance, or usage of trade.

This legal document, part of the Vermont Statutes Uniform Commercial Code, specifically addresses the procedures and rights related to lost, destroyed, or stolen cashier’s checks, teller’s checks, or certified checks. It defines key terms such as ‘check’ and ‘claimant’ and outlines the requirements for asserting a claim to the amount of a check. The document also establishes the enforceability of the claim and the obligations of the obligated bank. It further addresses the obligations of the claimant if the check is paid or dishonored when presented for payment by a person with rights of a holder in due course.

The legal documents provided govern various aspects of bank deposits and collections. They cover the responsibilities and liabilities of banks, customers, and other parties involved in these processes. The documents address the encoding and retention of information on items, warranties related to electronic presentment, the treatment of items subject to notice, stop-payment orders, legal process, or setoff, and the order in which these items may be charged or certified. They also outline the rights and obligations of payor banks, collecting banks, and depositary banks, as well as the process of presentment and settlement.

The legal document, part of the Vermont Statutes’ Uniform Commercial Code, governs various aspects of funds transfers. It establishes rules and regulations regarding the rights and obligations of senders, receiving banks, and beneficiary’s banks in funds transfers. The document covers topics such as the governing law, interest rates, refund of payments, preclusion of customer objections, court restraints, charging of sender’s account, treatment of creditor process, payment to beneficiaries, payment of sender’s obligations, liability of receiving banks, erroneous execution of payment orders, acceptance and rejection of payment orders, cancellation and amendment of payment orders, treatment of payment orders received by beneficiary’s banks, authorization and verification of payment orders, unenforceability of certain verified payment orders, third-party communication systems, security procedures, relationship with the Electronic Fund Transfer Act, definitions of terms, time of receipt of payment orders, and applicability of the article to funds transfers.

The provided legal document content covers various aspects related to letters of credit. It governs the security interest of an issuer or nominated person in a document presented under a letter of credit, the liability of issuers, nominated persons, and advisers, the assignment of proceeds of a letter of credit, the transfer of drawing rights, remedies in cases of wrongful dishonor or repudiation, subrogation rights of issuers, applicants, and nominated persons, the transferability of the right to draw or demand performance under a letter of credit, warranties of the beneficiary, the handling of fraud and forgery, the issuance, amendment, cancellation, and duration of letters of credit, the rights and obligations of issuers, confirmers, and advisers, definitions related to letters of credit, and the choice of law and forum.

These legal documents pertain to secured transactions under the Uniform Commercial Code in Vermont. They cover various aspects such as the priority of conflicting claims to collateral, continuation of effectiveness of financing statements, perfection of security interests, and amendment of pre-effective-date financing statements. The documents provide guidelines for secured parties, debtors, obligors, and persons holding a security interest or lien on collateral. They specify the requirements for filing financing statements, the duration and effectiveness of financing statements, the process of amending financing statements, and the termination of financing statements.

The provided legal document contains definitions and terms used in the Bank Act. It applies to financial institutions, banks, and customers. The document defines various terms such as ‘access area’, ‘access device’, ‘acquisition transaction’, ‘automated teller machine (ATM)’, ‘banking business’, ‘banking day’, ‘branch’, and many more. It also clarifies the exemptions from the definition of ‘banking business’, which include depositing money in escrow or with an agent, credit unions, accepting deposits in connection with purchasing or leasing property or services.