§3-1411. Refusal to pay cashier's checks, teller's checks and certified checks
(1). In this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the issuer.
[PL 1993, c. 293, Pt. A, §2 (NEW).]
(2). The person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages and if the obligated bank wrongfully:
(a). Refuses to pay a cashier's check or certified check; [PL 1993, c. 293, Pt. A, §2 (NEW).]
(b). Stops payment of a teller's check; or [PL 1993, c. 293, Pt. A, §2 (NEW).]
(c). Refuses to pay a dishonored teller's check. [PL 1993, c. 293, Pt. A, §2 (NEW).]
[PL 1993, c. 293, Pt. A, §2 (NEW).]
(3). Expenses or consequential damages under subsection (2) are not recoverable if the refusal of the obligated bank to pay occurs because:
(a). The bank suspends payments; [PL 1993, c. 293, Pt. A, §2 (NEW).]
(b). The obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument; [PL 1993, c. 293, Pt. A, §2 (NEW).]
(c). The obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument; or [PL 1993, c. 293, Pt. A, §2 (NEW).]
(d). Payment is prohibited by law. [PL 1993, c. 293, Pt. A, §2 (NEW).]
[PL 1993, c. 293, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 1993, c. 293, §A2 (NEW).
Structure Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS
11 §3-1402. Signature by representative
11 §3-1403. Unauthorized signature
11 §3-1404. Impostors; fictitious payees
11 §3-1405. Employer's responsibility for fraudulent indorsement by employee
11 §3-1406. Negligence contributing to forged signature or alteration of instrument
11 §3-1408. Drawee not liable on unaccepted draft
11 §3-1409. Acceptance of draft; certified check
11 §3-1410. Acceptance varying draft
11 §3-1411. Refusal to pay cashier's checks, teller's checks and certified checks
11 §3-1412. Obligation of issuer of note or cashier's check
11 §3-1413. Obligation of acceptor
11 §3-1414. Obligation of drawer
11 §3-1415. Obligation of indorser
11 §3-1416. Transfer warranties
11 §3-1417. Presentment warranties
11 §3-1418. Payment or acceptance by mistake