Oklahoma § 12A-4-205 Depositary Bank Holder of Unindorsed Item.

Oklahoma Statutes

§ 12A-4-205 — Depositary Bank Holder of Unindorsed Item.

Oklahoma § 12A-4-205

Title 12AUniform Commercial Code

This text of Oklahoma § 12A-4-205 (Depositary Bank Holder of Unindorsed Item.) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Okla. Stat. tit. 12A, § 12A-4-205 (2026).

Text

DEPOSITARY BANK HOLDER OF UNINDORSED ITEM 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 indorses the item, and, if the bank satisfies the other requirements of Section 3-302 of this title, 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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DEPOSITARY BANK HOLDER OF UNINDORSED ITEM 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 indorses the item, and, if the bank satisfies the other requirements of Section 3-302 of this title, 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.