Florida Statute 674.301 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

View Entire Chapter

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books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection (1).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 Citing Statute 674.301

Total Results: 3

First Union Nat. Bank v. First Fla. Bank, NA

Court: Fla. Dist. Ct. App. | Date Filed: 1993-04-16T00:53:00-07:00

Citation: 616 So. 2d 1168

Snippet: 1985). Thus, we are called upon to apply sections 674.301 and 674.302, Florida Statutes (1985), in context… of its error in misrouting this item. Section 674.301(4)(a) provides that an item received through a …presenting bank for the purposes of this opinion. See § 674.301, Fla. Stat. (1985). 91-04108 District

Hapney v. Central Garage, Inc.

Court: Fla. Dist. Ct. App. | Date Filed: 1991-02-01T00:00:00-08:00

Citation: 579 So. 2d 127

Snippet: Uniform Serv. of Florence, Inc. v. Dudley, 278 S.C. 674, 301 S.E.2d 142 (1983); Hill v. Mobile Auto Trim, Inc

Capital City First Nat. Bank v. Lewis State Bank

Court: Fla. Dist. Ct. App. | Date Filed: 1977-01-18T23:53:00-08:00

Citation: 341 So. 2d 1025

Snippet: State was obliged by §§ 674.212(2), 674.213 and 674.301, F.S. 1973, to dishonor the checks before midnight