This section of the Kentucky Revised Statutes, specifically under the Uniform Commercial Code and Negotiable Instruments, governs 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’ (which includes cashier’s checks, teller’s checks, and certified checks), ‘claimant’ (the person claiming the right to receive the amount of the lost, destroyed, or stolen check), ‘declaration of loss’ (a statement made under penalty of perjury regarding the loss of the check), and ‘obligated bank’ (the issuer or acceptor of the check).

This legal document governs the acceptance of drafts and certified checks. Acceptance refers to the drawee’s agreement to pay a draft as presented, which must be written on the draft and may consist of the drawee’s signature alone. Acceptance can be made at any time and becomes effective when notification is given or the accepted draft is delivered. A draft may be accepted even if it is incomplete, overdue, or has been dishonored.

This section of the Kentucky Revised Statutes, specifically under the Uniform Commercial Code and Negotiable Instruments, governs the refusal to pay cashier’s checks, teller’s checks, and certified checks. It applies to obligated banks, which are the acceptor of a certified check or the issuer of a cashier’s check or teller’s check bought from the issuer. If an obligated bank wrongfully refuses to pay a cashier’s check or certified check, stops payment of a teller’s check, or refuses to pay a dishonored teller’s check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment.

The issuer of a note or cashier’s check or other draft drawn on the drawer is obliged to pay the instrument: (1) According to its terms at the time it was issued or, if not issued, at the time it first came into possession of a holder; or (2) If the issuer signed an incomplete instrument, according to its terms when completed, to the extent stated in KRS 355.3-115 and 355.

This section of the Kentucky Revised Statutes governs the obligation of the drawer of unaccepted drafts. It applies to drawers who issue or possess such drafts. However, it does not apply to cashier’s checks or other drafts drawn on the drawer. If an unaccepted draft is dishonored, the drawer is obliged to pay the draft according to its terms at the time it was issued or when it first came into possession of a holder.

This section of the Kentucky Revised Statutes governs the obligation of indorsers of dishonored instruments. It states that if an instrument is dishonored, an indorser is obliged to pay the amount due on the instrument according to the terms of the instrument at the time it was indorsed. If the indorser indorsed an incomplete instrument, they are obliged to pay according to its terms when completed, to the extent stated in the relevant sections.

This legal document pertains to transfer warranties for negotiable instruments. It states that a person who transfers an instrument for consideration warrants to the transferee and subsequent transferees that they are entitled to enforce the instrument, all signatures on the instrument are authentic and authorized, the instrument has not been altered, and the instrument is not subject to any defense or claim in recoupment. The warrantor also warrants that they have no knowledge of any insolvency proceeding commenced with respect to the maker or acceptor, and in the case of an unaccepted draft, the drawer.

This legal document, found in the Kentucky Revised Statutes under the Uniform Commercial Code, specifically in the section on Negotiable Instruments, governs presentment warranties. It applies to drawees, persons obtaining payment or acceptance, previous transferors of the draft, persons making payment, and persons presenting dishonored drafts or other instruments for payment. The document establishes warranties that the person obtaining payment or acceptance and the previous transferor of the draft make to the drawee.

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, agreements, or similar provisions. In the absence of such prescription, the medium of settlement is cash or credit to an account in a Federal Reserve bank or as specified by the person receiving settlement. The time of settlement varies depending on the method of tender, such as cash, credit in a Federal Reserve bank account, credit or debit to a bank account, or funds transfer.

This legal document, part of the Kentucky Revised Statutes under the Uniform Commercial Code, pertains to the final payment of items by payor banks. It outlines the conditions under which an item is considered finally paid, including payment in cash, settlement without the right to revoke, or failure to revoke provisional settlement within the permitted time. The document also discusses the finality of provisional debits or credits entered in accounts between presenting and payor banks or between presenting and successive prior collecting banks.