30-3-409. Drawee not liable on unaccepted draft. A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.
History: En. Sec. 3-409, Ch. 264, L. 1963; R.C.M. 1947, 87A-3-409; amd. Sec. 132, Ch. 410, L. 1991.
Structure Montana Code Annotated
Chapter 3. Uniform Commercial Code Negotiable Instruments
30-3-403. Signature by representative
30-3-404. Unauthorized signatures
30-3-405. Impostors -- fictitious payees
30-3-406. Negligence contributing to forged signature or alteration of instrument
30-3-409. Drawee not liable on unaccepted draft
30-3-410. Acceptance of draft -- certified check
30-3-412. Acceptance varying draft
30-3-414. Obligation of indorser
30-3-415. Instruments signed for accommodation
30-3-419. Conversion of instrument
30-3-420. Employer responsibility for fraudulent indorsement by employee
30-3-421. Refusal to pay cashier's checks, teller's checks, and certified checks
30-3-422. Obligation of acceptor
30-3-423. Obligation of drawer