§ 47-4-301 Deferred posting – Recovery of payment by return of items – Time of dishonor – Return of items by payor bank
§ 47-4-302 Payor bank’s responsibility for late return of item
§ 47-4-303 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 Tennessee Code > Title 47 > Chapter 4 > Part 3 - 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 Tennessee Code 47-4-104
  • 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, except that any day that is not a banking day for purposes of federal reserve regulations, Regulation CC (12 C. See Tennessee Code 47-4-104
  • Clearing house: means an association of banks or other payors regularly clearing items. See Tennessee Code 47-4-104
  • 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 Tennessee Code 47-4-104
  • Documentary draft: means a draft to be presented for acceptance or payment if specified documents, certificated securities (§. See Tennessee Code 47-4-104
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Tennessee Code 47-4-104
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • 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.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105