United States — Louisiana Statutes

RS 10:4-404

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A bank does not have to pay a check that is more than six months old, except a certified check, and it may charge the customer's account for a later payment made in good faith.

• Account charges
• Checks

RS 10:4-405

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A bank’s authority over an item generally continues after a customer’s death or interdiction until written notice is received; a bank may also pay or certify certain checks for 10 days after death unless stopped by an interested person.

• Bank authority
• Customer death or interdiction
• Payments

RS 10:4-406

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Banks must give customers enough item detail or copies, and customers must check statements promptly and report unauthorized signatures or alterations.

• Account statements
• Alterations
• Customer notice
• Unauthorized signatures

RS 10:4-407

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A payor bank may be subrogated to certain rights if it pays an item in improper-payment circumstances.

• Banking operations
• Payment processing

RS 10:4-501

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A bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment, and must seasonably notify its customer if the draft is not paid or accepted in due course.

• Collection
• Dishonor notice
• Documentary drafts
• Presentment

RS 10:4-502

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A collecting bank may delay presenting an “on arrival” draft until a reasonable time for the goods to arrive has passed.

• Bank collection
• Document presentation
• Drafts

RS 10:4-503

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A presenting bank must deliver documents to the drawee under the stated timing rule, and after dishonor it must act diligently, notify its transferor, and request instructions unless it uses a referee in case of need.

• Bank presentation
• Dishonor
• Documentary drafts
• Goods and documents

RS 10:4-504

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A presenting bank may store, sell, or otherwise deal with goods reasonably if a documentary draft is dishonored and requested instructions are not received in time.

• Banking
• Documentary drafts
• Goods handling
• Liens

RS 10:4A-101

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This section says the chapter may be cited as Uniform Commercial Code -- Funds Transfers.

• Funds transfers

RS 10:4A-102

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This Chapter applies to funds transfers, except where R.S. 10:4A-108 provides otherwise.

• Funds transfers

RS 10:4A-103

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This section defines “payment order” and related banking terms, and says a payment order is issued when sent to the receiving bank.

• Banking transfers
• Definitions
• Payment orders

RS 10:4A-104

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This section defines key terms used in the chapter on funds transfers.

• Definitions
• Funds transfer

RS 10:4A-105

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This section defines terms used in this Chapter, including authorized account, bank, customer, funds-transfer business day, funds-transfer system, and prove.

• Banking definitions
• Funds transfers

RS 10:4A-106

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A receiving bank may set cut-off times for payment orders and related cancellations or amendments, and may treat late items as received the next funds-transfer business day.

• Business-day processing
• Funds transfer
• Payment orders

RS 10:4A-107

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Federal Reserve Board regulations and Federal Reserve Bank operating circulars override inconsistent parts of this Chapter.

RS 10:4A-108

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This section says the Chapter generally does not apply to a funds transfer covered by the federal Electronic Fund Transfer Act, but it does apply to a remittance transfer unless that transfer is an electronic fund transfer. If both laws apply and conflict, the federal provision controls to the extent of the inconsisten

• Electronic fund transfer
• Funds transfer
• Remittance transfer

RS 10:4A-201

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A security procedure is an agreement-based process between a customer and receiving bank used to verify payment orders or detect transmission/content errors.

• Payment orders
• Security procedures

RS 10:4A-202

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Payment orders can be treated as authorized or effective under certain customer, agency, and security-procedure conditions; the section also limits variation by agreement.

• Banking security procedures
• Payment orders

RS 10:4A-203

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A receiving bank may limit enforcement or retention of payment by express agreement, and it cannot enforce or retain payment if the customer proves the order was not caused by certain entrusted or unauthorized persons.

• Banking
• Payment orders

RS 10:4A-204

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A receiving bank must refund unauthorized or unenforceable payment orders from a customer and pay interest on the refundable amount, unless the customer fails to act with ordinary care and notify the bank in time.

• Customer notice
• Interest
• Refunds
• Unauthorized payment orders