Florida Statutes
Fla. Stat. § 674.201 (2025)
Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed “pay any bank.”
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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674.201 Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed “pay any bank.”—
(1) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of indorsement or lack of indorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank, such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection, or return, the relevant provisions of this chapter apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.
(2) After an item has been indorsed with the words “pay any bank” or the like, only a bank may acquire the rights of a holder until the item has been:
(a) Returned to the customer initiating collection; or
(b) Specially indorsed by a bank to a person who is not a bank.
Note.—s. 4-201, U.C.C.
Notes of Decisions
Cited in 4
cases (1 in the last 5 years), 1980–2025 · leading case: Jackson Vitrified v. People's Am., 388 So. 2d 1059 (Fla. 3d DCA 1980).
Jackson Vitrified v. People's Am., 388 So. 2d 1059 (Fla. 3d DCA 1980). “§ 674.201, Fla. Stat. (1975), § 4-201 (1962).”
SCADIF, S.A. v. First Union Nat'l Bank, 208 F. Supp. 2d 1352 (S.D. Fla. 2002). “Florida Statutes section 674.201(1) provides that a collecting bank for an item is an agent of the owner of the item until settlement becomes final.”
In Re Boogaart of Florida, Inc., 23 B.R. 157 (Bankr. S.D. Florida 1982). “Florida Statutes §§ 674.201, 674.212 and 674.401 (1981). The mere fact that the overdraft balance was computed or liquidated after the commencement of the bankruptcy ease does not transform the Sun Bank claim into an allowable expense of administration.”
Lake Car Connection, Inc. v. Truist Bank (M.D. Fla. 2025). “” Fla. Stat. § 674.201 (1). These provisions show that the account holder bears the risk of loss for a counterfeit check.”
— 674.201(1) — 1 case
SCADIF, S.A. v. First Union Nat'l Bank, 208 F. Supp. 2d 1352 (S.D. Fla. 2002). “Florida Statutes section 674.201(1) provides that a collecting bank for an item is an agent of the owner of the item until settlement becomes final.”
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