If there is a preclusion under this subsection, the payor bank may not recover for breach of warranty under Code Section 11-4-208 with respect to the unauthorized signature or alteration to which the preclusion applies.
History. Code 1933, § 109A-4-406, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1963, p. 188, § 13; Ga. L. 1996, p. 1306, § 13.
Code Commission notes.
Pursuant to Code Section 28-9-5, in 1996, a comma was inserted following “indorsement” near the end of subsection (f).
Cross references.
Duty of state officials and employees to notify depositories of unauthorized signatures or alterations appearing on paid items, § 50-17-65 .
Law reviews.
For article on the 1963 amendment (Ga. L. 1963, p. 188) to the Georgia Uniform Commercial Code, see 14 Mercer L. Rev. 378 (1963).
For comment on Perini Corp. v. First Nat’l Bank, 553 F.2d 398 (5th Cir. 1977), see 27 Emory L.J. 393 (1978).
For note, “Drawers: Check for Missing Endorsements on Joint Payee Checks,” in light of Trust Co. Bank v. Atlanta IBM Employees Fed. Credit Union, 245 Ga. 262 , 264 S.E.2d 202 (1980), see 32 Mercer L. Rev. 407 (1980).
For annual survey article on commercial law, see 50 Mercer L. Rev. 193 (1998).
Structure Georgia Code
Article 4 - Bank Deposits and Collections
Part 4 - Relationship Between Payor Bank and Its Customer
§ 11-4-401. When Bank May Charge Customer’s Account
§ 11-4-403. Customer’s Right to Stop Payment; Burden of Proof of Loss
§ 11-4-404. Bank Not Obliged to Pay Check More Than Six Months Old
§ 11-4-405. Death or Incompetence of Customer
§ 11-4-406. Customer’s Duty to Discover and Report Unauthorized Signature or Alteration
§ 11-4-407. Payor Bank’s Right to Subrogation on Improper Payment