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Illinois Compiled Statutes

810 ILCS 5/3-408 (2026)

Drawee not liable on unaccepted draft

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(810 ILCS 5/3-408) (from Ch. 26, par. 3-408)
    Sec. 3-408. Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.
(Source: P.A. 87-582.)

    
Notes of Decisions
Cited in 2 cases, 1999–2002 · leading case: M & O Insulation Co. v. Harris Bank, 783 N.E.2d 635 (Ill. App. Ct. 2d Dist. 2002).
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M & O Insulation Co. v. Harris Bank, 783 N.E.2d 635 (Ill. App. Ct. 2d Dist. 2002). · cites it 2× “) 810 ILCS 5/3-408 (West 1994). Under M & O's interpretation, Harris Bank was obligated to honor the check even though it was not accepted by Harris Bank and no step had been taken by Harris Bank to indicate it intended to process the check.”
Hahn v. Mckenzie Check Advance of Illinois, LLC, 61 F. Supp. 2d 813 (C.D. Ill. 1999). “Plaintiff argues that a post-dated check cannot be a basis for a “security interest” because under 810 ILCS 5/3-408, 1 a check does not automatically operate as an assignment of the bank funds.”
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