28-4-205. DEPOSITARY BANK HOLDER OF UNINDORSED ITEM. If a customer delivers an item to a depositary bank for collection:
(1) The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer indorses the item, and, if the bank satisfies the other requirements of section 28-3-302, it is a holder in due course; and
(2) The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer’s account.
History:
[28-4-205, added 1967, ch. 161, sec. 4-205, p. 351; am. 1993, ch. 288, sec. 19, p. 1060.]
Structure Idaho Code
Title 28 - COMMERCIAL TRANSACTIONS
Chapter 4 - UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS
Part 2 - COLLECTION OF ITEMS — DEPOSITARY AND COLLECTING BANKS
Section 28-4-202 - RESPONSIBILITY FOR COLLECTION OR RETURN — WHEN ACTION TIMELY.
Section 28-4-203 - EFFECT OF INSTRUCTIONS.
Section 28-4-204 - METHODS OF SENDING AND PRESENTING — SENDING DIRECTLY TO PAYOR BANK.
Section 28-4-205 - DEPOSITARY BANK HOLDER OF UNINDORSED ITEM.
Section 28-4-206 - TRANSFER BETWEEN BANKS.
Section 28-4-207 - TRANSFER WARRANTIES.
Section 28-4-208 - PRESENTMENT WARRANTIES.
Section 28-4-209 - ENCODING AND RETENTION WARRANTIES.
Section 28-4-211 - WHEN BANK GIVES VALUE FOR PURPOSES OF HOLDER IN DUE COURSE.
Section 28-4-213 - MEDIUM AND TIME OF SETTLEMENT BY BANK.
Section 28-4-214 - RIGHT OF CHARGE-BACK OR REFUND — LIABILITY OF COLLECTING BANK — RETURN OF ITEM.