SB 279 Adds demand drafts to certain transfer and presentment warranties in the Uniform Commercial Code
Sponsor: Taylor
LR Number: 1228S.01T Fiscal Note: 1228-01
Committee: Judiciary and Civil & Criminal Jurisprudence
Last Action: 7/12/2005 - Signed by Governor Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2005
House Handler: Wasson

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Current Bill Summary

SB 279 – This act modifies provisions of the Uniform Commercial Code relating to negotiable instruments and bank deposits and collections. Transfer warranties and presentment warranties for negotiable instruments and bank deposits and collections will apply to demand drafts. The person submitting the demand draft warrants that creation of the demand draft was authorized by the person identified as the maker of the check.