NRS 104.4205

Depository bank holder of unendorsed item

Known as the Uniform Commercial Code

The act spans §§ 104–104 (489 sections).

Applied in 1 court decision — leading case Krump Const. Co. v. First Nat. Bank of Nevada (1982)

Most recently applied in Krump Const. Co. v. First Nat. Bank of Nevada (December 1982)

(Added to NRS by 1965, 844; A 1993, 1303)

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 endorses the item, and, if the bank satisfies the other requirements of NRS 104.3302, 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.

Official source: Nevada Legislature. Reproduced from public-domain Nevada statutes; confirm against the official source for the current text. Not legal advice.