Wyoming § 34.1-4-302 Payor bank's responsibility for late return of
item

Wyoming Statutes

§ 34.1-4-302 — Payor bank's responsibility for late return of item

Wyoming § 34.1-4-302

Title 34.1Uniform Commercial Code

Art. 4BANK DEPOSITS AND COLLECTIONS

This text of Wyoming § 34.1-4-302 (Payor bank's responsibility for late return of item) is published on Counsel Stack Legal Research, covering Wyoming primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wyo. Stat. Ann. § 34.1-4-302 (2026).

Text

(a)If an item is presented to and received by a payor bank, the bank is accountable for the amount of:

(i)A demand item, other than a documentary draft, whether properly payable or not, if the bank, in any case in which it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, whether or not it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline; or

(ii)Any other properly payable item unless within the time allowed for acceptance or payment of that item the bank either accepts or pays the item or returns it and accompanying documents.

(b)The liability of a payor bank to pay an item pursuant to subsection (a) is subject to defenses based on breach of

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(a) If an item is presented to and received by a payor
bank, the bank is accountable for the amount of:
(i) A demand item, other than a documentary draft,
whether properly payable or not, if the bank, in any case in
which it is not also the depositary bank, retains the item
beyond midnight of the banking day of receipt without settling
for it or, whether or not it is also the depositary bank, does
not pay or return the item or send notice of dishonor until
after its midnight deadline; or
(ii) Any other properly payable item unless within
the time allowed for acceptance or payment of that item the bank
either accepts or pays the item or returns it and accompanying
documents.
(b) The liability of a payor bank to pay an item pursuant
to subsection (a) is subject to defenses based on breach of a
presentment warranty (section 34.1-4-208) or proof that the
person seeking enforcement of the liability presented or
transferred the item for the purpose of defrauding the payor
bank.