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 and later wants to revoke the settlement. The payor bank has the option to return the item or send written notice of dishonor or nonpayment if the item is unavailable for return. Additionally, 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.

This legal document, part of the Montana Code under the Uniform Commercial Code Bank Deposits and Collections, pertains to the collection of items by payor banks. It specifies that any knowledge, notice, stop order, or legal process received by the payor bank, or setoff exercised 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.

This legal document, found in the Montana Code under the section on Uniform Commercial Code Bank Deposits and Collections, governs the relationship between a payor bank and its customer. 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.

This legal document, part of the Montana Code under the Uniform Commercial Code Bank Deposits and Collections, governs 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 order is effective for 6 months, but lapses after 14 calendar days if the original order was oral and not confirmed in writing.

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. History: En. Sec. 4-404, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-404.

This legal document, part of the Montana Code under the Uniform Commercial Code Bank Deposits and Collections, governs the relationship between a payor bank and its customer. It outlines the duties and responsibilities of both parties regarding the handling of items and statements of account. The document specifies that a bank must either return the paid items to the customer or provide sufficient information in the statement of account for the customer to identify the items paid.

(1) An issuer of a credit card or similar loan advance access device may not issue a credit card or similar loan advance access device to a minor, as defined in 41-1-101 , residing in this state without first obtaining consent to the issuance from the minor’s parent or legal guardian. (2)An issuer of a credit card or similar loan advance access device that does not receive a parent’s or legal guardian’s consent, as required in subsection (1), before issuing the credit card or similar loan advance access device to a minor may not collect in this state from the minor or the minor’s parent or guardian any debt incurred by the minor through the use of the credit card or similar loan advance access device.

The division may review the books and affairs of a bank holding company operating under the Bank Holding Company Act of 1956 during the course of a safety and soundness examination of the bank holding company’s subsidiary bank to the extent that the records pertain to the operations and financial condition of the subsidiary bank or to the holding company’s indebtedness. The authority granted in this section does not authorize the division to regulate or charge assessments to a bank holding company.

No bank shall issue its certificate of deposit for the purpose of borrowing money or make partial payments upon any certificate of deposit. History: En. Sec. 111, Ch. 89, L. 1927; re-en. Sec. 6014.122, R.C.M. 1935; R.C.M. 1947, 5-1038.

This legal document authorizes fiduciaries, banks, and trust companies to deposit or arrange for the deposit of securities in a clearing corporation. The securities can be merged and held in bulk under the name of the clearing corporation’s nominee, regardless of ownership. Certificates of small denomination can be merged into larger ones. The records of the fiduciary and the bank or trust company must always indicate the party for whose account the securities are deposited.