§ 355.4-101 Short title
§ 355.4-102 Applicability
§ 355.4-103 Variation by agreement — Measure of damages — Action constituting ordinary care
§ 355.4-104 Definitions and index of definitions
§ 355.4-105 “Depositary bank” — “Payor bank” — “Intermediary bank” — “Collecting bank” — “Presenting bank.”
§ 355.4-106 Payable through or payable at bank — Collecting bank
§ 355.4-107 Separate office of a bank
§ 355.4-108 Time of receipt of items
§ 355.4-109 Delays
§ 355.4-110 Electronic presentment
§ 355.4-111 Statute of limitations
§ 355.4-201 Status of collecting bank as agent and provisional status of credits — Applicability of article — Item indorsed “pay any bank.”
§ 355.4-202 Responsibility for collection or return — When action timely
§ 355.4-203 Effect of instructions
§ 355.4-204 Methods of sending and presenting — Sending directly to payor bank
§ 355.4-205 Depositary bank holder of unindorsed item
§ 355.4-206 Transfer between banks
§ 355.4-207 Transfer warranties
§ 355.4-208 Presentment warranties
§ 355.4-209 Encoding and retention warranties
§ 355.4-210 Security interest of collecting bank in items, accompanying documents, and proceeds
§ 355.4-211 When bank gives value for purposes of holder in due course
§ 355.4-212 Presentment by notice of item not payable by, through, or at bank — Liability of drawer or indorser
§ 355.4-213 Medium and time of settlement by bank
§ 355.4-214 Right of charge-back or refund — Liability of collecting bank — Return of item
§ 355.4-215 Final payment of item by payor bank — When provisional debits and credits become final — When certain credits become available for withdrawal
§ 355.4-216 Insolvency and preference
§ 355.4-301 Deferred posting — Recovery of payment by return of items — Time of dishonor — Return of items by payor bank
§ 355.4-302 Payor bank’s responsibility for late return of item
§ 355.4-303 When items subject to notice, stop-payment order, legal process, or setoff — Order in which items may be charged or certified
§ 355.4-401 When bank may charge customer’s account
§ 355.4-402 Bank’s liability to customer for wrongful dishonor — Time of determining insufficiency of account
§ 355.4-403 Customer’s right to stop payment — Burden of proof of loss
§ 355.4-404 Bank not obligated to pay check more than six months old
§ 355.4-405 Death or incompetence of customer
§ 355.4-406 Customer’s duty to discover and report unauthorized signature or alteration
§ 355.4-407 Payor bank’s right to subrogation on improper payment
§ 355.4-501 Handling of documentary drafts — Duty to send for presentment and to notify customer of dishonor
§ 355.4-502 Presentment of “on arrival” drafts
§ 355.4-503 Responsibility of presenting bank for documents and goods — Report of reasons for dishonor — Referee in case of need
§ 355.4-504 Privilege of presenting bank to deal with goods — Security interest for expenses
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Terms Used In Kentucky Statutes > Chapter 355 > Article 4 - Bank Deposits and Collections

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • Afternoon: means the period of a day between noon and midnight. See Kentucky Statutes 355.4-104
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Appropriation: means an authorization by the General Assembly to expend, from public funds, a sum of money not in excess of the sum specified, for the purposes specified in the authorization and under the procedure prescribed in KRS Chapter 48. See Kentucky Statutes 446.010
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Arrest: Taking physical custody of a person by lawful authority.
  • 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 Kentucky Statutes 355.4-104
  • City: includes town. See Kentucky Statutes 446.010
  • Clearing house: means an association of banks or other payors regularly clearing items. See Kentucky Statutes 355.4-104
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (KRS §. See Kentucky Statutes 355.4-104
  • Draft: means a draft as defined in KRS §. See Kentucky Statutes 355.4-104
  • Drawee: means a person ordered in a draft to make payment. See Kentucky Statutes 355.4-104
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Ex officio: Literally, by virtue of one's office.
  • Federal: refers to the United States. See Kentucky Statutes 446.010
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • 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.
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Owner: when applied to any animal, means any person having a property interest in such animal. See Kentucky Statutes 446.010
  • Personal property: All property that is not real property.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Quorum: The number of legislators that must be present to do business.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • 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.
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • Statute: A law passed by a legislature.
  • Treatment: when used in a criminal justice context, means targeted interventions
    that focus on criminal risk factors in order to reduce the likelihood of criminal behavior. See Kentucky Statutes 446.010
  • Trustee: A person or institution holding and administering property in trust.
  • Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
  • Year: means calendar year. See Kentucky Statutes 446.010