§ 28:4-206. Transfer between banks.

Current through October 23, 2012

Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank.

                
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(Dec. 30, 1963, 77 Stat. 699, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)

HISTORICAL AND STATUTORY NOTES

UNIFORM COMMERCIAL CODE COMMENT

This section is designed to permit the simplest possible form of transfer from one bank to another, once an item gets in the bank collection chain, provided only identity of the transferor bank is preserved. This is important for tracing purposes and if recourse is necessary. However, since the responsibilities of the various banks appear in the Article it becomes unnecessary to have liability or responsibility depend on more formal indorsements. Simplicity in the form of transfer is conducive to speed. If the transfer is between banks, this section takes the place of the more formal requirements of Section 3-201.

Reason for 1990 Change [D.C. Law 10-249]

Modified to conform with current drafting practices; no intent to change substance.

Prior Codifications

1981 Ed., § 28:4-206.

1973 Ed., § 28:4-206.

Legislative History of Laws

For legislative history of D.C. Law 10-249, see Historical and Statutory Notes following § 28:4-101.