Rhode Island § 33-21.1-5 § 33-21.1-5. Checks, drafts and similar instruments issued or certified by banking and financial organizations.

Rhode Island Statutes

§ 33-21.1-5 — § 33-21.1-5. Checks, drafts and similar instruments issued or certified by banking and financial organizations.

Rhode Island § 33-21.1-5

Title 33Probate practice and procedure

Ch. 33-21.1Unclaimed Intangible and Tangible Property

This text of Rhode Island § 33-21.1-5 (§ 33-21.1-5. Checks, drafts and similar instruments issued or certified by banking and financial organizations.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 33-21.1-5 (2026).

Text

§ 33-21.1-5. Checks, drafts and similar instruments issued or certified by banking and financial
               organizations.
(a) Any sum payable on a check, draft, or similar instrument, except those subject to
            § 33-21.1-4, on which a banking or financial organization is directly liable, including a cashier's
            check and a certified check, which has been outstanding for more than three (3) years
            after it was payable or after its issuance if payable on demand, is presumed abandoned,
            unless the owner, within three (3) years, has communicated in writing with the banking
            or financial organization concerning it or otherwise indicated an interest as evidenced

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§ 33-21.1-5. Checks, drafts and similar instruments issued or certified by banking and financial organizations.

(a) Any sum payable on a check, draft, or similar instrument, except those subject to § 33-21.1-4, on which a banking or financial organization is directly liable, including a cashier's check and a certified check, which has been outstanding for more than three (3) years after it was payable or after its issuance if payable on demand, is presumed abandoned, unless the owner, within three (3) years, has communicated in writing with the banking or financial organization concerning it or otherwise indicated an interest as evidenced by a memorandum or other record on file prepared by an employee thereof.

(b) A holder may not deduct from the amount of any instrument subject to this section any charge imposed by reason of the failure to present the instrument for payment unless there is a valid and enforceable written contract between the holder and the owner of the instrument pursuant to which the holder may impose a charge, and the holder regularly imposes the charges and does not regularly reverse or otherwise cancel them.