This legal document governs the settlement of transactions by banks. It outlines the medium and time of settlement, which 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, and the time of settlement varies depending on the method of tender. The document specifies the time of settlement for different forms of tender, including cash, checks, credits or debits to accounts, and funds transfers.

This legal document, found in the Code of Maryland under Commercial Law, Title 4, SubTitle 2, governs the final payment of items by payor banks. It outlines the various actions that constitute final payment, such as paying the item in cash, settling for the item without the right to revoke the settlement, or making a provisional settlement and failing to revoke it within the permitted time. The document also clarifies that if provisional settlement does not become final, the item is not considered finally paid.

This section of the Code of Maryland, Commercial Law, Title 4, SubTitle 3 governs the settlement and revocation of demand items by payor banks. It outlines the actions that a payor bank can take if it settles for a demand item other than a documentary draft presented before midnight of the banking day of receipt. The payor bank has the option to revoke the settlement and recover the item by returning it or sending written notice of dishonor or nonpayment if the item is unavailable for return.

This document, part of the Code of Maryland, specifically Title 4, SubTitle 3, addresses the actions and responsibilities of payor banks regarding the payment of items and charging their customers’ accounts. It states that if any knowledge, notice, or stop-payment order is received by the bank after certain events have occurred, such as accepting or certifying the item, paying the item in cash, settling for the item, becoming accountable for the amount of the item, or reaching a cutoff hour for checks, the bank’s right or duty to pay the item or charge the customer’s account is not affected.

This legal document, found in the Code of Maryland under Commercial Law, Title 4, SubTitle 4, governs various aspects related to banking transactions. It allows banks to charge items against a customer’s account, even if it creates an overdraft, as long as the item is authorized by the customer and in accordance with any agreement between the customer and the bank. The document also states that a customer is not liable for an overdraft if they did not sign the item or benefit from its proceeds.

This provision, found in the Code of Maryland, Commercial Law, Title 4, SubTitle 4, governs the ability of any person authorized to draw on a customer’s account to stop payment of any item drawn on the account or close the account. If there is more than one person authorized to draw on the account, any of these persons may stop payment or close the account. A stop-payment order is effective for 6 months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that period.

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.

This legal document, found in the Code of Maryland under Commercial Law, Title 4, SubTitle 4, governs the obligations and rights related to bank statements and payment of items. It applies to banks and their customers. According to the document, when a bank sends or makes available a statement of account to a customer, it must either return the items paid, provide sufficient information in the statement to identify the items paid, or retain the items or legible copies of the items if they are not returned.

This title may be cited as Maryland Uniform Commercial Code - Funds Transfers.

The provided legal document content pertains to merchant processing agreements between business entities and credit card processors. It defines the term ‘credit card processor’ as a person who processes credit card or electronic commerce transactions on behalf of a business entity for a fee. The definition includes merchant services providers, financial institutions, independent sales organizations, and subsidiaries or affiliates of these entities. The document states that a merchant processing agreement is a contract between a credit card processor and a business entity, where the business entity agrees to pay the credit card processor for processing credit card or electronic commerce transactions on its behalf.