Subject to section 42a-3-420 concerning conversion of instruments and section 42a-3-206 concerning restrictive endorsements, only a collecting bank's transferor can give instructions that affect the bank or constitute notice to it, and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any agreement with its transferor.
(1959, P.A. 133, S. 4-203; P.A. 91-304, S. 81; May Sp. Sess. P.A. 92-11, S. 20, 70.)
History: P.A. 91-304 replaced reference to Sec. 42a-3-419 with reference to Sec. 42a-3-420, replaced “and the provisions of both article 3 and this article concerning restrictive endorsements” with “and restrictive endorsements (section 42a-3-206)” and made minor changes in wording; May Sp. Sess. P.A. 92-11 made a technical change.
Structure Connecticut General Statutes
Title 42a - Uniform Commercial Code
Article 4 - Bank Deposits and Collections
Section 42a-4-101. - Short title: Uniform Commercial Code–Bank Deposits and Collections.
Section 42a-4-102. - Applicability.
Section 42a-4-103. - Variation by agreement. Measure of damages. Action constituting ordinary care.
Section 42a-4-104. - Definitions and index of definitions.
Section 42a-4-106. - Payable through or payable at bank. Collecting bank.
Section 42a-4-107. - Separate office of bank.
Section 42a-4-108. - Time of receipt of items.
Section 42a-4-110. - Electronic presentment.
Section 42a-4-111. - Statute of limitations.
Section 42a-4-202. - Responsibility for collection or return. When action timely.
Section 42a-4-203. - Effect of instructions.
Section 42a-4-204. - Methods of sending and presenting. Sending directly to payor bank.
Section 42a-4-205. - Depositary bank holder of unendorsed item.
Section 42a-4-206. - Transfer between banks.
Section 42a-4-207. - Transfer warranties.
Section 42a-4-208. - Presentment warranties.
Section 42a-4-209. - Encoding and retention warranties.
Section 42a-4-211. - When bank gives value for purposes of holder in due course.
Section 42a-4-213. - Medium and time of settlement by bank.
Section 42a-4-214. - Right of charge-back or refund. Liability of collecting bank. Return of item.
Section 42a-4-216. - Insolvency and preference.
Section 42a-4-302. - Payor bank's responsibility for late return of item.
Section 42a-4-401. - When bank may charge customer's account.
Section 42a-4-403. - Customer's right to stop payment. Burden of proof of loss.
Section 42a-4-404. - Bank not obligated to pay check more than six months old.
Section 42a-4-405. - Death or incompetence of customer.
Section 42a-4-406. - Customer's duty to discover and report unauthorized signature or alteration.
Section 42a-4-407. - Payor bank's right to subrogation on improper payment.