Florida Statute 674.302 - 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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F.S. 674.302

674.302 Payor bank’s responsibility for late return of item.—

(1) If an item is presented to and received by a payor bank, the bank is accountable for the amount of:

(a) A demand item, other than a documentary draft, whether properly payable or not, if the bank, in any case in which it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, whether or not it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline; or

(b) Any other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents.

(2) The liability of a payor bank to pay an item pursuant to subsection (1) is subject to defenses based on breach of a presentment warranty (s. 674.2081) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.

History.—s. 1, ch. 65-254; s. 36, ch. 92-82.

Note.—s. 4-302, U.C.C.; supersedes s. 676.55.

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Amendments to 674.302

Annotations, Discussions, Cases:

Cases Citing Statute 674.302

Total Results: 7

Gathercrest Ltd. v. First American Bank & Trust

649 F. Supp. 106, 1985 U.S. Dist. LEXIS 18147

District Court, M.D. Florida | Filed: Jul 8, 1985 | Docket: 1198821

Cited 9 times | Published

return of an item is set forth in Florida Statutes § 674.302: Payor Bank's Responsibility for Late Return of

Bufman Organization v. Federal Deposit Insurance Corporation

82 F.3d 1020, 29 U.C.C. Rep. Serv. 2d (West) 905, 1996 U.S. App. LEXIS 11189

Court of Appeals for the Eleventh Circuit | Filed: May 13, 1996 | Docket: 473181

Cited 6 times | Published

give him notice of dishonor. See Fla.Stat.Ann. § 674.302(1)(a) (1993); U.C.C. § 4-302 (1990).

Peoples Bank in North Fort Myers v. Bob Lincoln, Inc.

283 So. 2d 400, 13 U.C.C. Rep. Serv. (West) 672, 1973 Fla. App. LEXIS 6650

District Court of Appeal of Florida | Filed: Sep 14, 1973 | Docket: 1743577

Cited 6 times | Published

any kind apart from the instrument. Fla. Stat. § 674.302 provides: In the absence of a valid defense such

SCADIF, S.A. v. First Union National Bank

208 F. Supp. 2d 1352, 48 U.C.C. Rep. Serv. 2d (West) 232, 2002 U.S. Dist. LEXIS 12962, 2002 WL 1473458

District Court, S.D. Florida | Filed: Jul 5, 2002 | Docket: 2449794

Cited 5 times | Published

amount before the midnight deadline imposed by section 674.302, Florida Statutes. During a six-day bench trial

Bank of Miami v. BANCO INDUS. Y GANADERO

515 So. 2d 1038, 1987 WL 4126

District Court of Appeal of Florida | Filed: Nov 3, 1987 | Docket: 1467319

Cited 1 times | Published

Miami is liable to Banco Beni for violating Section 674.302, Florida Statutes (1979), which provides: "In

First Bank of Immokalee v. Fwcc

745 So. 2d 994

District Court of Appeal of Florida | Filed: Sep 10, 1999 | Docket: 1294716

Published

7 for insufficient funds. FWCC sued under section 674.302(1), Florida Statutes (1993), which states that

Bufman Organization v. Federal Deposit Insurance

82 F.3d 1020

Court of Appeals for the Eleventh Circuit | Filed: May 13, 1996 | Docket: 64024557

Published

give him notice of dishonor. See Fla.Stat. Ann. § 674.302(1)(a) (1993); U.C.C. § 4-302 (1990). Bufman’s