N.Y. UCC Law § 4-401
This is the official text of N.Y. UCC Law § 4-401, part of New York’s UCC Law — part of the compiled statutory law of New York, published by the state as "UCC Law." Browse the sections below, each linked to its official government source.
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When Bank May Charge Customer's Account
Official statutory text
Section 4--401. When Bank May Charge Customer's Account.\n (1) As against its customer, a bank may charge against his account any\nitem which is otherwise properly payable from that account even though\nthe charge creates an overdraft.\n (2) A bank which in good faith makes payment to a holder may charge\nthe indicated account of its customer according to\n (a) the original tenor of his altered item; or\n (b) the tenor of his completed item, even though the bank knows\n the item has been completed unless the bank has notice that\n the completion was improper.\n
Status: in_force · Read it on the official government site
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