Utah Statutes
§ 70A-4-205 — Depositary bank holder of unindorsed item.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-4 Uniform Commercial Code - Bank Deposits and Collections·Part 70A-4-2 Collection of Items - Depositary and Collecting Banks
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 70A-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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Utah § 70A-4-205 (Depositary bank holder of unindorsed item.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.