Arkansas Code Title 4, Subtitle 1, Chapter 4, Part 3 - Collection of Items -- Payor Banks

• § 4-4-301 - Deferred Posting -- Recovery of Payment by Return of Items -- Time of Dishonor -- Return of Items by Payor Bank.
  (a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter...
• § 4-4-302 - Payor Bank's Responsibility for Late Return of Item.
  (a) If an item is presented to and received by a payor bank, the bank is accountable for the amount of: (1) a demand...
• § 4-4-303 - When Items Subject to Notice, Stop-Payment Order, Legal Process, or Setoff -- Order in Which Items May Be Charged or Certified.
  (a) Any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank comes too late to...

Last modified: November 15, 2016