California Commercial Code

§ 4210

COM § 4210 Effective Jan 1, 2007Div. 4 · Ch. 2

Statute text

(a)A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either:

(1)In case of an item deposited in an account to the extent to which credit given for the item has been withdrawn or applied.

(2)In case of an item for which it has given credit available for withdrawal as of right, to the extent of the credit given, whether or not the credit is drawn upon or there is a right of chargeback.

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Legislative history

Amended by Stats. 2006, Ch. 254, Sec. 46. Effective January 1, 2007.