2010 Georgia Code 11-4-205 Case Law
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One Click Case Law for § 11-4-205
O.C.G.A. § 11-4-204 <-- --> O.C.G.A. §11-4-206



2010 Georgia Code

TITLE 11 - COMMERCIAL CODE
ARTICLE 4 - BANK DEPOSITS AND COLLECTIONS
PART 2 - COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS
§ 11-4-205 - Depositary bank holder of unindorsed item

O.C.G.A. 11-4-205 (2010)
11-4-205. 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 Code Section 11-3-302, 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.

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Graham W. Syfert, Esq., P.A.
Phone: 904-383-7448
Fax: 904-638-4726

graham@syfert.com