Arkansas Code
Subtitle 1 - Uniform Commercial Code
Chapter 4 - Bank Deposits and Collections

Part 1 - General Provisions and Definitions

§ 4-4-101. Short title - This chapter may be cited as Uniform Commercial Code —...

§ 4-4-102. Applicability - (a) To the extent that items within this chapter are...

§ 4-4-103. Variation by agreement — Measure of damages — Action constituting ordinary care - (a) The effect of the provisions of this chapter may...

§ 4-4-104. Definitions and index of definitions - (a) In this chapter, unless the context otherwise requires: (1)...

§ 4-4-105. Definitions of types of banks - In this chapter: (1) “Bank” means a person engaged in...

§ 4-4-106. Payable through or payable at bank — Collecting bank - (a) If an item states that it is “payable through”...

§ 4-4-107. Separate office of a bank - A branch or separate office of a bank is a...

§ 4-4-108. Time of receipt of items - (a) For the purpose of allowing time to process items,...

§ 4-4-109. Delays - (a) Unless otherwise instructed, a collecting bank in a good...

§ 4-4-110. Electronic presentment - (a) “Agreement for electronic presentment” means an agreement, clearinghouse rule,...

§ 4-4-111. Statute of limitations - An action to enforce an obligation, duty, or right arising...

Part 2 - Collection of Items — Depositary and Collecting Banks

§ 4-4-201. Status of collecting bank as agent and provisional status of credits — Applicability of chapter — Item indorsed “Pay Any Bank” - (a) Unless a contrary intent clearly appears and before the...

§ 4-4-202. Responsibility for collection or return — When action timely - (a) A collecting bank must exercise ordinary care in: (1)...

§ 4-4-203. Effect of instructions - Subject to Chapter 3 of this subtitle concerning conversion of...

§ 4-4-204. Methods of sending and presenting — Sending directly to payor bank - (a) A collecting bank shall send items by a reasonably...

§ 4-4-205. Depositary bank holder of unindorsed item - If a customer delivers an item to a depositary bank...

§ 4-4-206. Transfer between banks - Any agreed method that identifies the transferor bank is sufficient...

§ 4-4-207. Transfer warranties - (a) A customer or collecting bank that transfers an item...

§ 4-4-208. Presentment warranties - (a) If an unaccepted draft is presented to the drawee...

§ 4-4-209. Encoding and retention warranties - (a) A person who encodes information on or with respect...

§ 4-4-210. Security interest of collecting bank in items, accompanying documents, and proceeds - (a) A collecting bank has a security interest in an...

§ 4-4-211. When bank gives value for purposes of holder in due course - For purposes of determining its status as a holder in...

§ 4-4-212. Presentment by notice of item not payable by, through, or at bank — Liability of drawer or indorser - (a) Unless otherwise instructed, a collecting bank may present an...

§ 4-4-213. Medium and time of settlement by bank - (a) With respect to settlement by a bank, the medium...

§ 4-4-214. Right of charge-back or refund — Liability of collecting bank — Return of item - (a) If a collecting bank has made provisional settlement with...

§ 4-4-215. 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...

§ 4-4-216. Insolvency and preference - (a) If an item is in or comes into the...

Part 3 - Collection of Items — Payor Banks

§ 4-4-301. 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...

§ 4-4-302. Payor bank's responsibility for late return of item - (a) If an item is presented to and received by...

§ 4-4-303. 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...

Part 4 - Relationship Between Payor Bank and Its Customer

§ 4-4-401. When bank may charge customer's account - (a) A bank may charge against the account of a...

§ 4-4-402. Bank's liability to customer for wrongful dishonor — Time of determining insufficiency of account - (a) Except as otherwise provided in this chapter, a payor...

§ 4-4-403. Customer's right to stop payment — Burden of proof of loss - (a) A customer or any person authorized to draw on...

§ 4-4-404. Bank not obliged to pay check more than six (6) months old - A bank is under no obligation to a customer having...

§ 4-4-405. Death or incompetence of customer - (a) A payor or collecting bank's authority to accept, pay,...

§ 4-4-406. Customer's duty to discover and report unauthorized signature or alteration — Comparative fault - (a) A bank that sends or makes available to a...

§ 4-4-407. Payor bank's right to subrogation on improper payment - If a payor bank has paid an item over the...

Part 5 - Collection of Documentary Drafts

§ 4-4-501. Handling of documentary drafts — Duty to send for presentment and to notify customer of dishonor - A bank that takes a documentary draft for collection shall...

§ 4-4-502. Presentment of “on arrival” drafts - If a draft or the relevant instructions require presentment “on...

§ 4-4-503. Responsibility of presenting bank for documents and goods — Report of reasons for dishonor — Referee in case of need - Unless otherwise instructed and except as provided in Chapter 5...

§ 4-4-504. Privilege of presenting bank to deal with goods — Security interest for expenses - (a) A presenting bank that, following the dishonor of a...