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Chapter 62A.4 RCW

BANK DEPOSITS AND COLLECTIONS

RCW Sections

PART 1

GENERAL PROVISIONS AND DEFINITIONS
62A.4-101Short title.
62A.4-102Applicability.
62A.4-103Variation by agreement; measure of damages; action constituting ordinary care.
62A.4-104Definitions and index of definitions.
62A.4-105"Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank".
62A.4-106Payable through or payable at bank; collecting bank.
62A.4-107Separate office of a bank.
62A.4-108Time of receipt of items.
62A.4-109Delays.
62A.4-110Electronic presentment.
62A.4-111Statute of limitations.
PART 2

COLLECTION OF ITEMS: DEPOSITORY

AND COLLECTING BANKS
62A.4-201Status of collecting bank as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".
62A.4-202Responsibility for collection or return; when action timely.
62A.4-203Effect of instructions.
62A.4-204Methods of sending and presenting; sending directly to payor bank.
62A.4-205Depositary bank holder of unindorsed item.
62A.4-206Transfer between banks.
62A.4-207Transfer warranties.
62A.4-208Presentment warranties.
62A.4-209Encoding and retention warranties.
62A.4-210Security interest of collecting bank in items, accompanying documents and proceeds.
62A.4-211When bank gives value for purposes of holder in due course.
62A.4-212Presentment by notice of item not payable by, through, or at a bank; liability of drawer or indorser.
62A.4-213Medium and time of settlement by bank.
62A.4-214Right of charge-back or refund; liability of collecting bank; return of item.
62A.4-215Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
62A.4-216Insolvency and preference.
PART 3

COLLECTION OF ITEMS: PAYOR BANKS
62A.4-301Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
62A.4-302Payor bank's responsibility for late return of item.
62A.4-303When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified.
PART 4

RELATIONSHIP BETWEEN PAYOR BANK

AND ITS CUSTOMER
62A.4-401When bank may charge customer's account.
62A.4-402Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
62A.4-403Customer's right to stop payment; burden of proof of loss.
62A.4-404Bank not obligated to pay check more than six months old.
62A.4-405Death or incompetence of customer.
62A.4-406Customer's duty to discover and report unauthorized signature or alteration.
62A.4-407Payor bank's right to subrogation on improper payment.
PART 5

COLLECTION OF DOCUMENTARY DRAFTS
62A.4-501Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
62A.4-502Presentment of "on arrival" drafts.
62A.4-503Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
62A.4-504Privilege of presenting bank to deal with goods; security interest for expenses.

Notes:

     Reviser's note: Powers, duties, and functions of the department of general administration relating to financial institutions were transferred to the department of financial institutions by 1993 c 472, effective October 1, 1993. See RCW 43.320.011. The department of general administration was renamed the department of enterprise services by 2011 1st sp.s. c 43 ยง 107.