Kentucky Statutes 355.4-404 – Bank not obligated to pay check more than six months old
Current as of: 2024 | Check for updates
|
Other versions
A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six (6) months after its date, but it may charge its customer’s account for a payment made thereafter in good faith.
Effective: July 1, 1960
History: Created 1958 Ky. Acts ch. 77, sec. 4-404, effective July 1, 1960.
Effective: July 1, 1960
Terms Used In Kentucky Statutes 355.4-404
- 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 Kentucky Statutes 355.4-104
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
History: Created 1958 Ky. Acts ch. 77, sec. 4-404, effective July 1, 1960.