California Commercial Code
§ 4303
COM § 4303 Effective Jan 1, 1993Div. 4 · Ch. 3
Statute text
View on leginfo.ca.gov(a)Any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank comes too late to terminate, suspend, or modify the bank’s right or duty to pay an item or to charge its customer’s account for the item if the knowledge, notice, stop-payment order, or legal process is received or served and a reasonable time for the bank to act thereon expires or the setoff is exercised after the earliest of the following:
(1)The bank accepts or certifies the item.
(2)The bank pays the item in cash.
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Legislative history
Amended by Stats. 1992, Ch. 914, Sec. 39. Effective January 1, 1993.