The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

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F.S. 674.301

674.301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.—

(1) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it:

(a) Returns the item; or

(b) Sends written notice of dishonor or nonpayment if the item is unavailable for return.

(2) 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books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection (1).

(3) Unless previous notice of dishonor has been sent, an item is dishonored at the time when for purposes of dishonor it is returned or notice sent in accordance with this section.

(4) An item is returned:

(a) As to an item presented through a clearinghouse, when it is delivered to the presenting or last collecting bank or to the clearinghouse or is sent or delivered in accordance with clearinghouse rules; or

(b) In all other cases, when it is sent or delivered to the bank’s customer or transferor or pursuant to instructions.

History.—s. 1, ch. 65-254; s. 35, ch. 92-82.

Note.—s. 4-301, U.C.C.; supersedes s. 676.55.

F.S. 674.301 on Google Scholar

F.S. 674.301 on Casetext

Amendments to 674.301

Arrestable Offenses / Crimes under Fla. Stat. 674.301

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 674.301.

Annotations, Discussions, Cases:

Cases from cite.case.law:

FIRST UNION NATIONAL BANK, OF FLORIDA, v. FIRST FLORIDA BANK, N. A., 616 So. 2d 1168 (Fla. Dist. Ct. App. 1993)

. . . Thus, we are called upon to apply sections 674.301 and 674.302, Florida Statutes (1985), in context with . . . Section 674.301(4)(a) provides that an item received through a clearinghouse is returned “when it is . . . See § 674.301, Fla.Stat. (1985). . . .

NORSTAR BANK OF UPSTATE NY, v. SOUTHEAST BANK, N. A., 723 F. Supp. 187 (N.D.N.Y. 1989)

. . . . §§ 674.301 & 674.302. . . . Thus, plaintiff discharged its duty under §§ 674.301 and 674.302. . . . , defendant has not persuaded the court that § 674.103 requires more than is already mandated by §§ 674.301 . . .

GATHERCREST LTD. a a v. FIRST AMERICAN BANK AND TRUST, a, 649 F. Supp. 106 (M.D. Fla. 1985)

. . . Section 674.302(2) does not define “time allowed,” and the cross reference to § 674.301 in the official . . . comment is of little assistance since § 674.301 does not specify the time allowed for payment of documentary . . . Section 674.301(1) does not apply in this case because it pertains to demand items other than a documentary . . . draft, and § 674.301(2) does not apply because it applies to demand items where the payor bank is also . . . Fla.Stat. § 674.301, Comment 2. . . .

CAPITAL CITY FIRST NATIONAL BANK, a v. LEWIS STATE BANK, a, 341 So. 2d 1025 (Fla. Dist. Ct. App. 1977)

. . . processable for the decision to pay or dishonor, Florida State was obliged by §§ 674.212(2), 674.213 and 674.301 . . .