Indiana Statutes
§ 26-1-7-508 — Warranties of collecting bank as to documents
A collecting bank or other intermediary
known to be entrusted with documents of title on behalf of another or
with collection of a draft or other claim against delivery of documents
warrants by delivery of the documents only its own good faith and
authority even if the collecting bank or other intermediary has
purchased or made advances against the claim or draft to be collected.
Formerly: Acts 1963, c.317, s.7-508. As amended by
P.L.143-2007, SEC.59.
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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Repealed§ 26-1-1-106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
Severability