Michigan Compiled Laws
Article 4 - Bank Deposits and Collections (440.4101...440.4504)
174-1962-4-2 - Part 2 Collection of Items: Depositary and Collecting Banks (440.4201...440.4216)

Section 440.4201 - Agency Status of Banks; Provisional Status of Credits; Applicability of Article; Endorsement With Pay Any Bank. - Sec. 4201. (1) Unless a contrary intent clearly appears and...

Section 440.4202 - Collecting Bank; Duties; Exercising Ordinary Care; Liability. - Sec. 4202. (1) A collecting bank must exercise ordinary care...

Section 440.4203 - Collecting Bank; Instructions From Transferor. - Sec. 4203. Subject to article 3 concerning conversion of instruments...

Section 440.4204 - Collecting Bank; Methods of Sending Items; Presentment. - Sec. 4204. (1) A collecting bank shall send items by...

Section 440.4205 - Depositary Bank; Item Delivered by Customer for Collection. - Sec. 4205. If a customer delivers an item to a...

Section 440.4206 - Transfer Between Banks. - Sec. 4206. Any agreed method which identifies the transferor bank...

Section 440.4207 - Warranties of Customer and Collecting Bank on Transfer of Items; Accrual of Cause of Action. - Sec. 4207. (1) A customer or collecting bank that transfers...

Section 440.4208 - Presentment of Unaccepted or Dishonored Draft; Warranties of Person Obtaining Payment and Prior Transferor; Discharge; Accrual of Cause of Action. - Sec. 4208. (1) If an unaccepted draft is presented to...

Section 440.4209 - Electronic Presentment; Encoding of Information and Retaining Items; Warranties; Recovery of Damages, Expenses, and Loss of Interest. - Sec. 4209. (1) A person who encodes information on or...

Section 440.4210 - Security Interest of Collecting Bank in Items, Accompanying Documents, or Proceeds. - Sec. 4210. (1) A collecting bank has a security interest...

Section 440.4211 - Bank With Security Interest as Holder in Due Course. - Sec. 4211. For purposes of determining its status as a...

Section 440.4212 - Presentment by Notice of Item Not Payable By, Through, or at a Bank; Treating Item as Dishonored. - Sec. 4212. (1) Unless otherwise instructed, a collecting bank may...

Section 440.4213 - Settlement; Medium and Time. - Sec. 4213. (1) With respect to settlement by a bank,...

Section 440.4214 - Right to Charge-Back or Refund. - Sec. 4214. (1) If a collecting bank has made provisional...

Section 440.4215 - Final Payment of Items by Payor Bank; Final Credit; Availability of Credit for Withdrawal. - Sec. 4215. (1) An item is finally paid by a...

Section 440.4216 - Payor or Collecting Bank; Suspension of Payments. - Sec. 4216. (1) If an item is in or comes...