TITLE 28

COMMERCIAL TRANSACTIONS

CHAPTER 3

UNIFORM COMMERCIAL CODE — NEGOTIABLE INSTRUMENTS

PART 4.

LIABILITY OF PARTIES

28-3-408.  Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

History:

[28-3-408, added 1993, ch. 288, sec. 2, p. 1041.]