Code of Virginia - Title 8.4 Commercial Code - Bank Deposits And Collections - Part 3 Collection Of Items: Payor Banks

• 8.4-301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payo...
  (a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before ...
• 8.4-302 Payor bank's responsibility for late return of item
  (a) If an item is presented and received by a payor bank, the bank is accountable for the amount to: (1) a demand item, other ...
• 8.4-303 When items subject to notice, stop-payment order, legal process or setoff; order in which items ma...
  (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 terminate, ...

Last modified: April 3, 2009