Florida Statutes

Fla. Stat. § 674.205 (2025)

Depositary bank holder of unindorsed item.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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674.205 Depositary bank holder of unindorsed item.—If a customer delivers an item to a depositary bank for collection:

(1) The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item; and, if the bank satisfies the other requirements of s. 673.3021, it is a holder in due course; and

(2) The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account.

History.—s. 1, ch. 65-254; s. 23, ch. 92-82.

Note.—s. 4-205, U.C.C.

Notes of Decisions

Cited in 1 case, 2003–2003 · leading case: Sec. Inv. Prot. Corp. v. Capital City Bank (In Re Meridian Asset Mgmt., Inc.), 296 B.R. 243 (Bankr. N.D. Fla. 2003).

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Sec. Inv. Prot. Corp. v. Capital City Bank (In Re Meridian Asset Mgmt., Inc.), 296 B.R. 243 (Bankr. N.D. Fla. 2003). · cites it 3× “Count Seven, Breach of Warranty states: pursuant to Fla. Stat. § 674.205 , by accepting the deposits by McEachin and Meridian for collection, the Bank warranted to the payor Plaintiffs that the amount of the deposited items were paid to the proper accounts.”

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