Florida Statute 674.215 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

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674.215 Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.—

(1) An item is finally paid by a payor bank when the bank has first done any of the following:

(a) Paid the item in cash;

(b) Settled for the item without having a right to revoke the settlement under statute, clearinghouse rule, or agreement; or

(c) Made a provisional settlement for the item and failed to revoke the settlement in the time and manner permitted by statute, clearinghouse rule, or agreement.

(2) If provisional settlement for an item does not become final, the item is not finally paid.

(3) If provisional settlement for an item between the presenting and payor banks is made through a clearinghouse or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks or between the presenting and successive prior collecting banks seriatim, they become final upon final payment of the item by the payor bank.

(4) If a collecting bank receives a settlement for an item which is or becomes final, the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final.

(5) Subject to applicable law stating a time for availability of funds and any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer’s account becomes available for withdrawal as of right:

(a) If the bank has received a provisional settlement for the item, when the settlement becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time; or

(b) If the bank is both the depositary bank and the payor bank, and the item is finally paid, at the opening of the bank’s second banking day following receipt of the item.

(6) Subject to applicable law stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank’s next banking day after receipt of the deposit.

History.—s. 1, ch. 65-254; s. 1, ch. 67-172; s. 33, ch. 92-82.

Note.—s. 4-213, U.C.C.; supersedes s. 676.55; former s. 674.213.

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Amendments to 674.215

Annotations, Discussions, Cases:

Cases Citing Statute 674.215

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In Re Coll. Bound, Inc., 172 B.R. 399 (Bankr. S.D. Fla. 1994).

Cited 9 times | Published | United States Bankruptcy Court, S.D. Florida. | 8 Fla. L. Weekly Fed. B 220, 32 Collier Bankr. Cas. 2d 341, 1994 Bankr. LEXIS 1540, 26 Bankr. Ct. Dec. (CRR) 63

...never left the Debtor's general checking account. Florida Statutes Chapter 674 governs the respective rights and obligations of parties where a check is given as payment for a debt and the check subsequently enters the bank collection process. Under § 674.215, until such time as the payor bank (the Debtor's bank in the present case) makes "final settlement" on the check, there has been no effective or actual transfer of funds from the payor's account....

...[2] The reference is to § 401(k) of the Internal Revenue Code. Income withheld from employee/participants' paychecks for contribution to a 401(k) plan is not included in their gross income. The employer also receives certain tax benefits for providing a 401(k) plan. [3] Florida Statutes § 674.215 outlines when "final settlement" on a check occurs....

...ment for the item and failed to revoke the settlement in the time and manner permitted by statute, clearinghouse rule, or agreement. * * * * * * (2) If provisional settlement for an item does not become final, the item is not finally paid. Fla.Stat. § 674.215 (1992)....

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In re Williams, 269 B.R. 68 (M.D. Fla. 2001).

Published | District Court, M.D. Florida | 15 Fla. L. Weekly Fed. B 9, 2001 Bankr. LEXIS 1414, 89 A.F.T.R.2d (RIA) 674, 2001 WL 1355608

...final payment or certification of the check.” The Debtors assert that until the check was honored by Consolidated International Group’s bank in accordance with the bank collection process, the distributee has not received the property distributed. The Debtors rely on Florida Statutes § 674.215 for the proposition that a check’s payment does not become final until the payor bank makes “final settlement” on the check. Section 674.215 of the Florida Statutes relates to the rules for final payment of items between banks....

...he bank had not become property of the plan, but were property of the bankruptcy estate. In determining the significance of the prepetition checks that had been dishonored, the bankruptcy court looked to the bank collection process as codified under § 674.215 Fla....

...ved in connection with an attempted rollover of a pension distribution.) The Debtors did not, and acknowledge that they cannot, present evidence that their actual receipt of the check was within the 60 day rollover period required by § 402(c)(3). . § 674.215....