§ 674.301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank
§ 674.302 Payor bank’s responsibility for late return of item
§ 674.303 When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified
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Terms Used In Florida Statutes > Chapter 674 > Part III - Collection of Items: Payor Banks

  • Account: means any deposit or credit account with a bank, including a demand, time, savings, passbook, share draft, or like account, other than an account evidenced by a certificate of deposit. See Florida Statutes 674.104
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See Florida Statutes 674.104
  • Clearinghouse: means an association of banks or other payors regularly clearing items. See Florida Statutes 674.104
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Customer: means a person having an account with a bank or for whom a bank has agreed to collect items, including a bank that maintains an account at another bank. See Florida Statutes 674.104
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (s. See Florida Statutes 674.104
  • Fraud: Intentional deception resulting in injury to another.
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Florida Statutes 674.104
  • person: includes individuals, children, firms, associations, joint adventures, partnerships, estates, trusts, business trusts, syndicates, fiduciaries, corporations, and all other groups or combinations. See Florida Statutes 1.01
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.