§ 4-301. Deferred posting; recovery of payment by return of items; time of dishonor
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 4-301
§ 4-301. Deferred posting; recovery of payment by return of items; time of dishonor
(a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the item if, before it has made final payment and before its midnight deadline, it
Credits
Added by Acts 1975, c. 49, § 2, eff. July 1, 1975. Amended by Acts 1996, c. 91, § 2, eff. Jan. 1, 1997.
Formerly Art. 95B, § 4-301.
MD Code, Commercial Law, § 4-301, MD COML § 4-301
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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