Michigan Compiled Laws 174-1962-4-3 Part 3 Collection Of Items: Payor Banks (440.4301...440.4303)

• Section 440.4301 Demand Items; Recovery Of Settlement; Time Of Dishonor; Return Of Items.
  (1) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter...
• Section 440.4302 Payor Bank; Accountability Upon Presentment And Receipt Of Item; Defenses.
  (1) If an item is presented on and received by a payor bank the bank is accountable for the amount of the following: (a)...
• Section 440.4303 Payor Bank; Items Subject To Knowledge Notice, Stop-payment Order, Legal Process, Or Setoff; Order In Which Times May Be Handled.
  (1) 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: October 10, 2016