Alaska Statutes
Title 45. Trade and Commerce
Chapter 04. Bank Deposits and Collections

Article 1. General Provisions and Definitions.

Sec. 45.04.101. Short title. - This chapter may be cited as Uniform Commercial Code -...

Sec. 45.04.102. Applicability. - (a) To the extent that items within this chapter are...

Sec. 45.04.103. Variation by agreement; measure of damages; certain action constituting ordinary care. - (a) The effect of this chapter may be varied by...

Sec. 45.04.104. Definitions and index of definitions. - (a) In this chapter, unless the context otherwise requires, (1)...

Sec. 45.04.105. “Bank”; “depositary bank”; “intermediary bank”; “collecting bank”; “payor bank”; “presenting bank.” - In this chapter, (1) “bank” means a person engaged in...

Sec. 45.04.106. Payable through or payable at bank; collecting bank. - (a) If an item states that it is “payable through”...

Sec. 45.04.107. Separate office of a bank. - A branch or separate office of a bank is a...

Sec. 45.04.108. Time of receipt of items. - (a) To allow time to process items, prove balances, and...

Sec. 45.04.109. Delays. - (a) Unless otherwise instructed, a collecting bank in a good...

Sec. 45.04.110. Electronic presentment. - (a) “Agreement for electronic presentment” means an agreement, clearinghouse rule,...

Sec. 45.04.111. Statute of limitations. - An action to enforce an obligation, duty, or right arising...

Article 2. Collection of Items: Depositary and Collecting Banks.

Sec. 45.04.201. Status of collecting bank as agent and provisional status of credits; applicability; item endorsed “pay any bank”. - (a) Unless a contrary intent clearly appears and before a...

Sec. 45.04.202. Responsibility for collection or return; when action timely. - (a) A collecting bank must exercise ordinary care in (1)...

Sec. 45.04.203. Effect of instructions. - Subject to the provisions concerning conversion of instruments (AS 45.03.420)...

Sec. 45.04.204. Methods of sending and presenting; sending directly to payor bank. - (a) A collecting bank shall send items by a reasonably...

Sec. 45.04.205. Depositary bank holder of unendorsed item. - If a customer delivers an item to a depositary bank...

Sec. 45.04.206. Transfer between banks. - Any agreed method that identifies the transferor bank is sufficient...

Sec. 45.04.207. Transfer warranties. - (a) A customer or collecting bank that transfers an item...

Sec. 45.04.208. Presentment warranties. - (a) If an unaccepted draft is presented to the drawee...

Sec. 45.04.209. Encoding and retention warranties. - (a) A person who encodes information on or with respect...

Sec. 45.04.210. Security interest of collecting bank in items, accompanying documents, and proceeds. - (a) A collecting bank has a security interest in an...

Sec. 45.04.211. When bank gives value for purposes of holder in due course. - To determine its status as a holder in due course,...

Sec. 45.04.212. Presentment by notice of item not payable by, through, or at a bank; liability of drawer or endorser. - (a) Unless otherwise instructed, a collecting bank may present an...

Sec. 45.04.213. Medium and time of settlement by bank. - (a) With respect to settlement by a bank, the medium...

Sec. 45.04.214. Right of charge back or refund; liability of collecting bank; return of item. - (a) If a collecting bank has made provisional settlement with...

Sec. 45.04.215. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal. - (a) An item is finally paid by a payor bank...

Sec. 45.04.216. Insolvency and preference. - (a) If an item is in or comes into the...

Article 3. Collection of Items: Payor Banks.

Sec. 45.04.301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank. - (a) If a payor bank settles for a demand item...

Sec. 45.04.302. Payor bank's responsibility for late return of item. - (a) If an item is presented to and received by...

Sec. 45.04.303. When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified. - (a) Any knowledge, notice, or stop-payment order received by, legal...

Article 4. Relationship Between Payor Bank and Its Customer.

Sec. 45.04.401. When bank may charge customer's account. - (a) A bank may charge against the account of a...

Sec. 45.04.402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account. - (a) Except as otherwise provided in this chapter, a payor...

Sec. 45.04.403. Customer's right to stop payment; burden of proof of loss. - (a) A customer, or any person authorized to draw on...

Sec. 45.04.404. Bank not obligated to pay check more than six months old. - A bank is under no obligation to a customer having...

Sec. 45.04.405. Death or incompetence of a customer. - (a) A payor or collecting bank's authority to accept, pay,...

Sec. 45.04.406. Customer's duty to discover and report unauthorized signature or alteration. - (a) A bank that sends or makes available to a...

Sec. 45.04.407. Payor bank's right to subrogation on improper payment. - If a payor bank has paid an item over the...

Article 5. Collection of Documentary Drafts.

Sec. 45.04.501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor. - A bank that takes a documentary draft for collection must...

Sec. 45.04.502. Presentment of “on arrival” drafts. - If a draft or the relevant instructions require presentment “on...

Sec. 45.04.503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need. - (a) Unless otherwise instructed and except as provided in AS...

Sec. 45.04.504. Privilege of presenting bank to deal with goods; security interest for expenses. - (a) A presenting bank that, following the dishonor of a...