California § 4205. 4205. (Repealed and added by Stats. 1992, Ch. 914, Sec. 23.)

California Statutes

§ 4205. — 4205. (Repealed and added by Stats. 1992, Ch. 914, Sec. 23.)

California·Code COM Commercial Code - COM·Div. 4. DIVISION 4. BANK DEPOSITS AND COLLECTIONS·Ch. 2. CHAPTER 2. Collection of Items: Depositary and Collecting Banks

If a customer delivers an item to a depositary bank for collection both of the following apply:

(a)The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of Section 3302, it is a holder in due course.

(b)The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account.

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If a customer delivers an item to a depositary bank for collection both of the following apply:
(a)
The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of Section 3302, it is a holder in due course.
(b)
The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account.

California § 4205. (4205. (Repealed and added by Stats. 1992, Ch. 914, Sec. 23.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Margaret Lewis v. Telephone Employees Credit Union Universal Savings Bank Bay View Federal Savings and Loan Association the Bank of America, American Independent Bank Willie Gillyard Mahogany Check Cashing Defendants-Cross-Defendants City National Bank, Defendant-Cross-Claimant-Appellee. Angus G. MacLeod as Personal Representative of the Estate of Jean P. MacLeod v. Willie J. Gillyard Mahogany Check Cashing, Angus G.S. MacLeod as Personal Representative of the Estate of Jean P. MacLeod v. Kodama-Schulman, Inc. George Schulman Doe Kodama Doe Oswalt Doe 1 A/K/A "Ira Singerman" Willie T. Gillyard Mahogany Check Cashing American Independent Bank Glendale Federal Bank Sumitomo Bank of California Federal Home Loan Bank

87 F.3d 1537 (Ninth Circuit, 1996)

Legislative History

Repealed and added by Stats. 1992, Ch. 914, Sec. 23. Effective January 1, 1993.

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Legislative History