South Carolina Statutes
§ 36-4-209 — Encoding and retention warranties.
(a)A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty.
(b)A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.
(c)A person to whom warranties are made under this section and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amou
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South Carolina § 36-4-209 (Encoding and retention warranties.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
HISTORY: 1962 Code SECTION 10.4-209; 1966 (54) 2716; 2008 Act No. 204, SECTION 3, eff July 1, 2008.
Nearby Sections
15
§ 36-4-101
Short title.§ 36-4-104
Definitions and index of definitions.§ 36-4-105
Definitions of types of banks.§ 36-4-107
Separate office of bank.§ 36-4-108
Time of receipt of items.§ 36-4-109
Delays.§ 36-4-110
Electronic presentment.§ 36-4-111
Statute of limitations.§ 36-4-203
Effect of instructions.