Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 28
COMMERCIAL TRANSACTIONS
CHAPTER 4
UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
PART 2.
COLLECTION OF ITEMS — DEPOSITARY AND COLLECTING BANKS
28-4-205.  Depositary bank holder of unindorsed item. 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 28-3-302, 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.

History:
[28-4-205, added 1967, ch. 161, sec. 4-205, p. 351; am. 1993, ch. 288, sec. 19, p. 1060.]


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