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United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:4-402

A payor bank may dishonor an item that would overdraw the account unless it agreed to cover the overdraft, and it is liable to the customer for damages caused by wrongful dishonor.

account dishonorbank liabilitycustomer damages
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United States — Louisiana
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1 provisions
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“A payor bank may dishonor an item that would overdraw the account unless it agreed to cover the overdraft, and it is liable to the customer for damages caused by wrongful dishonor.”

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RS 10:4-402

A payor bank may dishonor an item that would overdraw the account unless it agreed to cover the overdraft, and it is liable to the customer for damages caused by wrongful dishonor.

Section 10:4-402

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Amendment
§ 10:4-402RS 10:4-402Amendment

A payor bank may dishonor an item that would overdraw the account unless it agreed to cover the overdraft, and it is liable to the customer for damages caused by wrongful dishonor.

§4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account (a) Except as otherwise provided in this Chapter, a payor bank wrongfully dishonors an item if it dishonors an item that is properly payable, but a bank may dishonor an item that would create an overdraft unless it has agreed to pay the overdraft. (b) A payor bank is liable to its customer for damages proximately caused by the wrongful dishonor of an item. (c) A payor bank's determination of the customer's account balance on which a decision to dishonor for insufficiency of available funds is based may be made at any time between the time the item is received by the payor bank and the time that the payor bank returns the item or gives notice in lieu of return, and no more than one determination need be made. If, at the election of the payor bank, a subsequent balance determination is made for the purpose of reevaluating the bank's decision to dishonor the item, the account balance at that time is determinative of whether a dishonor for insufficiency of available funds is wrongful. Acts 1992, No. 1133, §4, eff. July 1, 1993. Amended by Acts 1993, No. 948, §3, eff. Jan. 1, 1994.
Section 10:4-402Verify source

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