Kentucky Statutes 355.4-102 – Applicability
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(1) To the extent that items within this article are also within Articles 3 and 8 of this chapter, they are subject to those articles. If there is conflict, this article governs Article 3 of this chapter but Article 8 of this chapter governs this article.
(2) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located. In the case of action or nonaction by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located.
Effective: January 1, 1997
History: Amended 1996 Ky. Acts ch. 130, sec. 73, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-102, effective July 1, 1960.
(2) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located. In the case of action or nonaction by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located.
Terms Used In Kentucky Statutes 355.4-102
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Kentucky Statutes 355.4-104
Effective: January 1, 1997
History: Amended 1996 Ky. Acts ch. 130, sec. 73, effective January 1, 1997. — Created
1958 Ky. Acts ch. 77, sec. 4-102, effective July 1, 1960.