Okla. Stat. tit. 12A, § 12A-4-205
This is the official text of Okla. Stat. tit. 12A, § 12A-4-205, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Depositary Bank Holder of Unindorsed Item
Official statutory text
DEPOSITARY BANK HOLDER OF UNINDORSED ITEM
If a customer delivers an item to a depositary bank for
collection:
(1) The depositary bank becomes a holder of the item at the
time it receives the item for collection if the customer at the time
of delivery was a holder of the item, whether or not the customer
indorses the item, and, if the bank satisfies the other requirements
of Section 3-302 of this title, it is a holder in due course; and
(2) The depositary bank warrants to collecting banks, the payor
bank or other payor, and the drawer that the amount of the item was
paid to the customer or deposited to the customer's account.
If a customer delivers an item to a depositary bank for
collection:
(1) The depositary bank becomes a holder of the item at the
time it receives the item for collection if the customer at the time
of delivery was a holder of the item, whether or not the customer
indorses the item, and, if the bank satisfies the other requirements
of Section 3-302 of this title, it is a holder in due course; and
(2) The depositary bank warrants to collecting banks, the payor
bank or other payor, and the drawer that the amount of the item was
paid to the customer or deposited to the customer's account.
Status: in_force · Read it on the official government site
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