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Texas Business & Commerce Code

§ 4.112 — PAYMENT OF CHECK AT PAR

BC § 4.112Title 1. UNIFORM COMMERCIAL CODE · Ch. 4. BANK DEPOSITS AND COLLECTIONS · Art. A. GENERAL PROVISIONS AND DEFINITIONS

Statute text

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(a)Except as otherwise provided by Chapter 3 or this chapter, a payor bank shall pay a check drawn on it against an account with a sufficient balance at par without regard to whether the payee holds an account at the bank.
(b)This section does not prohibit a bank from requiring commercially reasonable verification of the payee's identity before settlement of the check.
(c)In addition to any remedy provided by law, the banking commissioner, in coordination with the Finance Commission of Texas, shall ensure that payor banks comply with the requirements of this section.

Legislative history

Added by Acts 2001, 77th Leg., ch. 699, Sec. 20, eff. Sept. 1, 2001.

Source: Texas Business & Commerce Code § 4.112 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.