California Commercial Code

§ 4215

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

COM § 4215 Effective Jan 1, 1993Div. 4 · Ch. 2

(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.

…

Legislative history

Added by renumbering Section 4213 by Stats. 1992, Ch. 914, Sec. 35. Effective January 1, 1993.