Indiana Statutes
§ 26-1-3.1-408 — Drawee not liable on unaccepted draft
Indiana § 26-1-3.1-408
This text of Indiana § 26-1-3.1-408 (Drawee not liable on unaccepted draft) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 26-1-3.1-408 (2026).
Text
A check or other draft does not of itself
operate as an assignment of funds in the hands of the drawee available
for its payment, and the drawee is not liable on the instrument until the
drawee accepts it.
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Legislative History
As added by P.L.222-1993, SEC.5.
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
SeverabilityCite This Page — Counsel Stack
Bluebook (online)
Indiana § 26-1-3.1-408, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/26-1-3.1-408.