California Commercial Code
§ 4215
COM § 4215 Effective Jan 1, 1993Div. 4 · Ch. 2
Statute text
View on leginfo.ca.gov(a)An item is finally paid by a payor bank when the bank has first done any of the following:
(1)Paid the item in cash.
(2)Settled for the item without having a right to revoke the settlement under statute, clearing house rule, or agreement.
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Legislative history
Added by renumbering Section 4213 by Stats. 1992, Ch. 914, Sec. 35. Effective January 1, 1993.