Michigan Compiled Laws 174-1962-4-1 Part 1 General Provisions And Definitions (440.4101...440.4111)

• Section 440.4101 Uniform Commercial Code—bank Deposits And Collections; Short Title.
  This article shall be known and may be cited as uniform commercial code—bank deposits and collections. History: 1962, Act 174, Eff. Jan. 1, 1964
• Section 440.4102 Conflict Of Laws; Provisions Applicable.
  (1) To the extent that items within this article are also within articles 3 and 8, they are subject to those articles. If there...
• Section 440.4103 Variation By Agreement; Measure Of Damages; Action Constituting Ordinary Care.
  (1) The effect of the provisions of this article may be varied by agreement but the parties to the agreement cannot disclaim a bank's...
• Section 440.4104 Definitions Used In Article.
  (1) As used in this article unless the context otherwise requires: (a) "Account" means any depositor credit account with a bank, including a demand,...
• Section 440.4105 Additional Definitions.
  As used in this article unless the context otherwise requires: (a) “Bank” means a person engaged in the business of banking, including a saving...
• Section 440.4106 “payable Through” And “payable At” Explained; Bank As Collecting Bank.
  (1) If an item states that it is “payable through” a bank identified in the item, (i) the item designates the bank as a...
• Section 440.4107 Bank Branch Or Separate Office As Separate Bank.
  A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the...
• Section 440.4108 Time Of Receipt Of Items.
  (1) For the purpose of allowing time to process items, prove balances and make the necessary entries on its books to determine its position...
• Section 440.4109 Collecting Bank; Waiving, Modifying, Or Extending Time Limits; Excuse For Delay.
  (1) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other...
• Section 440.4110 “agreement For Electronic Presentment” Defined; Presentment Notice.
  (1) “Agreement for electronic presentment” means an agreement, clearing-house rule, or Federal Reserve regulation or operating circular, providing that presentment of an item may...
• Section 440.4111 Commencement Of Action Under Article; Time Period.
  An action to enforce an obligation, duty, or right arising under this article must be commenced within 3 years after the cause of action...

Last modified: October 10, 2016