§ 70A-4-201 Status of collecting bank as agent and provisional status of credits — Applicability of chapter — Item indorsed “pay any bank.”
§ 70A-4-202 Responsibility for collection or return — When action timely
§ 70A-4-203 Effect of instructions
§ 70A-4-204 Methods of sending and presenting — Sending directly to payor bank
§ 70A-4-205 Depositary bank holder of unindorsed item
§ 70A-4-206 Transfer between banks
§ 70A-4-207 Transfer warranties
§ 70A-4-208 Presentment warranties
§ 70A-4-209 Encoding and retention warranties
§ 70A-4-210 Security interest of collecting bank in items, accompanying documents, and proceeds
§ 70A-4-211 When bank gives value for purposes of holder in due course
§ 70A-4-212 Presentment of notice of item not payable by, through, or at bank — Liability of drawer or indorser
§ 70A-4-213 Medium and time of settlement by bank
§ 70A-4-214 Right of charge-back or refund — Liability of collecting bank — Return of item
§ 70A-4-215 Final payment of item by payor bank — When provisional debits and credits become final — When certain credits become available for withdrawal
§ 70A-4-216 Insolvency and preference
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Terms Used In Utah Code > Title 70A > Chapter 4 > Part 2 - Collection of Items - Depositary and Collecting Banks

  • Account: means any deposit or credit account with a bank including a demand, time, savings, passbook, share draft, or similar account, other than the account evidenced by a certificate of deposit. See Utah Code 70A-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 other than a Saturday, a Sunday, or a legal holiday. See Utah Code 70A-4-104
  • Clearinghouse: means an association of banks or other payors regularly clearing items. See Utah Code 70A-4-104
  • Continuance: Putting off of a hearing ot trial until a later time.
  • 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 Utah Code 70A-4-104
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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 as provided in Section 70A-8-101, instructions for uncertificated securities as provided in Section 70A-8-101, other certificates, statements, or the like are to be received by the drawee or other payor before acceptance or payment of the draft. See Utah Code 70A-4-104
  • Draft: means a draft as defined in Section 70A-3-104 or an item, other than an instrument, that is an order. See Utah Code 70A-4-104
  • Drawee: means a person ordered in a draft to make payment. See Utah Code 70A-4-104
  • Equal: means , with respect to biological sex, of the same value. See Utah Code 68-3-12.5
  • Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Utah Code 70A-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.
  • Person: means :
         (24)(a) an individual;
         (24)(b) an association;
         (24)(c) an institution;
         (24)(d) a corporation;
         (24)(e) a company;
         (24)(f) a trust;
         (24)(g) a limited liability company;
         (24)(h) a partnership;
         (24)(i) a political subdivision;
         (24)(j) a government office, department, division, bureau, or other body of government; and
         (24)(k) any other organization or entity. See Utah Code 68-3-12.5
  • 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.
  • Signature: includes a name, mark, or sign written with the intent to authenticate an instrument or writing. See Utah Code 68-3-12.5
  • Statute: A law passed by a legislature.
  • 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