Minnesota § 336.4-205 336.4-205 DEPOSITARY BANK HOLDER OF UNENDORSED ITEM.

Minnesota Statutes

§ 336.4-205 — 336.4-205 DEPOSITARY BANK HOLDER OF UNENDORSED ITEM.

Minnesota § 336.4-205

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.4-205 (336.4-205 DEPOSITARY BANK HOLDER OF UNENDORSED ITEM.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.4-205 (2026).

Text

If a customer delivers an item to a depositary bank for collection:

(1)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 endorses the item, and, if the bank satisfies the other requirements of section336.3-302, it is a holder in due course; and

(2)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:
(1) 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 endorses the item, and, if the bank satisfies the other requirements of section336.3-302, it is a holder in due course; and
(2) 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.