This legal document governs the medium and time of settlement by a bank. It specifies that the medium and time of settlement may be prescribed by federal reserve regulations, clearing-house rules, or agreements. In the absence of such prescription, the medium of settlement is cash or credit to an account in a federal reserve bank or specified by the person to receive settlement. The time of settlement varies depending on the method of tender, such as cash, check, credit or debit to an account, or funds transfer.

This legal document, found in the Georgia Code under the Commercial Code section on Bank Deposits and Collections, specifically addresses the final payment of items by payor banks, the timing of when provisional debits and credits become final, and when certain credits become available for withdrawal. According to the document, an item is considered finally paid by a payor bank when it is paid in cash, settled without the right to revoke the settlement, or when a provisional settlement is made and not revoked within the permitted time.

This legal document governs the collection of items by payor banks. It outlines the actions a payor bank can take if it settles for a demand item and later wants to revoke the settlement. The payor bank can revoke the settlement and recover the settlement amount if it returns the item or sends written notice of dishonor or nonpayment. Additionally, if a demand item is received by a payor bank for credit on its books, it can return the item or send notice of dishonor within a specified time limit.

This legal document, found in the Georgia Code under the Commercial Code and specifically in the section on Bank Deposits and Collections, pertains to payor banks. It states that any knowledge, notice, stop-payment order, or legal process received by a payor bank comes too late to terminate, suspend, or modify the bank’s right or duty to pay an item or charge its customer’s account if the bank has already accepted or certified the item, paid it in cash, settled for the item without the right to revoke the settlement, become accountable for the amount of the item, or if a cutoff hour has passed.

This legal document governs the circumstances under which a bank may charge a customer’s account. A bank is allowed to charge against the account of a customer 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 is in accordance with any agreement between the customer and the bank. However, the customer is not liable for the amount of an overdraft if they did not sign the item or benefit from its proceeds.

This legal document, found in the Georgia Code, specifically in the Commercial Code under the section ‘Bank Deposits and Collections’, pertains to 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 stop-payment order is effective for six months and can be renewed for additional periods.

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. History. Code 1933, 109A-4-404, enacted by Ga. L. 1962, p. 156, 1; Ga. L. 1996, p. 1306, 13. RESEARCH REFERENCES Am. Jur. 2d. 11 Am.

This legal document, found in the Georgia Code, specifically in the Commercial Code under the section on Bank Deposits and Collections, outlines the duty of customers to discover and report unauthorized signatures or alterations. It applies to both customers and banks. The document states that banks must provide customers with statements of account that allow them to identify the items paid. If the items are not returned, the bank must retain them or provide legible copies.

This legal document, found in the Georgia Code, specifically addresses the offense of commercial gambling. It outlines the various acts that constitute commercial gambling, including operating or participating in the earnings of a gambling place, receiving or forwarding bets, becoming a custodian of anything of value bet, and setting up or promoting any lottery. The document also covers the sale of chances on game results, political outcomes, or the success of candidates, as well as the operation of a bingo game without a valid license.

This legal document, part of the Georgia Code, governs the operation of raffles by nonprofit, tax-exempt organizations. It specifies that only certain organizations, such as churches, schools, civic organizations, and nonprofit organizations qualified under Section 501(c) of the Internal Revenue Code, are allowed to operate raffles. The sheriff must issue a license to the organization before it can operate a raffle. The document outlines the application process for obtaining a license, including providing information about the organization, its officers, and persons involved in operating the raffle.