Texas Business & Commerce Code - Section 4.112. Payment Of Check At Par
Legal Research Home >
Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 4.112. Payment Of Check At Par
§ 4.112. PAYMENT OF CHECK AT PAR. (a) Except as otherwise
provided by Chapter 3 or this chapter, a payor bank shall pay a
check drawn on it against an account with a sufficient balance at
par without regard to whether the payee holds an account at the
bank.
(b) This section does not prohibit a bank from requiring
commercially reasonable verification of the payee's identity
before settlement of the check.
(c) In addition to any remedy provided by law, the banking
commissioner, in coordination with the Finance Commission of Texas,
shall ensure that payor banks comply with the requirements of this
section.
Added by Acts 2001, 77th Leg., ch. 699, § 20, eff. Sept. 1, 2001.
Section: 4.105 4.106 4.107 4.108 4.109 4.110 4.111 4.112 4.201 4.202 4.203 4.204 4.205 4.206 4.207
Last modified: August 10, 2007
|
