reglab/housing_qa huggingface dataset:
MT Code § 30-4-204 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-204. Methods of sending and presenting -- sending directly to payor bank

  30-4-204. Methods of sending and presenting -- sending directly to payor bank. (1) A collecting bank shall send items by a reasonably prompt method, taking into consideration any relevant instructions, the nature of the item, the number of those items on hand, and the cost of collection involved and the method generally used by it or others to present those items.   (2) A collecting bank may send:   (a) an item directly to the payor bank;   (b) an item to any nonbank payor if authorized by its transferor; and   (c) an item other than documentary drafts to a nonbank payor, if authorized by federal reserve regulation or operating circular, clearinghouse rule or the like.   (3) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.   History: En. Sec. 4-204, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-204; amd. Sec. 167, Ch. 410, L. 1991.
MT Code § 30-4-205 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-205. Depositary bank holder of unindorsed item

  30-4-205. Depositary bank holder of unindorsed item. If a customer is a holder of an item that is delivered to a depositary bank for collection:   (1) the depositary bank becomes a holder of the item at the time it receives the item for collection, whether or not the customer indorses, and if it satisfies the other requirements of 30-3-302, it may be a holder in due course; and   (2) the depositary bank warrants to subsequent collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer's account.   History: En. Sec. 4-205, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-205; amd. Sec. 168, Ch. 410, L. 1991.
MT Code § 30-4-206 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-206. Transfer between banks

  30-4-206. Transfer between banks. Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank.   History: En. Sec. 4-206, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-206; amd. Sec. 169, Ch. 410, L. 1991.
MT Code § 30-4-207 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-207. Transfer warranties

  30-4-207. Transfer warranties. (1) A customer or collecting bank that transfers an item and receives a settlement or other consideration warrants to the transferee and to any subsequent collecting bank that:   (a) the warrantor is a person entitled to enforce the item;   (b) all signatures on the item are authentic and authorized;   (c) the item has not been altered;   (d) the item is not subject to a defense or claim in recoupment stated in 30-3-305(1) of any party to the item that can be asserted against the warrantor; and   (e) the warrantor has no knowledge of any insolvency proceeding commenced with respect to the maker or acceptor or, in the case of an unaccepted draft, the drawer.   (2) If an item is dishonored, a customer and collecting bank transferring the item and receiving settlement or other consideration is obliged to pay the amount due on the item according to the terms of the item at the time it was transferred or, if the transfer was of an incomplete item, according to its terms when completed as stated in 30-3-115 and 30-3-407. The obligation of a transferor is owed to the transferee and to any subsequent collecting bank that takes the item in good faith. A transferor may not disclaim its obligation under this subsection by an indorsement stating that it is made "without recourse" or otherwise disclaiming liability.   (3) A person to whom the warranties under subsection (1) are made and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, but not more than the amount of the item plus expenses and loss of interest incurred as a result of the breach.   (4) The warranties stated in subsection (1) cannot be disclaimed with respect to checks. Unless notice of a claim for breach of warranty is given to the warrantor within 30 days after the claimant has reason to know of the breach and the identity of the warrantor, the warrantor is discharged to the extent of any loss caused by the delay in giving notice of the claim.   (5) A cause of action for breach of warranty under this section accrues when the claimant has reason to know of the breach.   History: En. Sec. 4-207, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-207; amd. Sec. 170, Ch. 410, L. 1991.
MT Code § 30-4-208 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-208. Security interest of collecting bank in items, accompanying documents, and proceeds

  30-4-208. Security interest of collecting bank in items, accompanying documents, and proceeds. (1) A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either:   (a) in case of an item deposited in an account, to the extent to which credit given for the item has been withdrawn or applied;   (b) in case of an item for which it has given credit available for withdrawal as of right, to the extent of the credit given, whether or not the credit is drawn upon or there is a right of charge-back; or   (c) if it makes an advance on or against the item.   (2) If credit given for several items received at one time or pursuant to a single agreement is withdrawn or applied in part, the security interest remains upon all the items, any accompanying documents, or the proceeds of either. For the purpose of this section, credits first given are first withdrawn.   (3) Receipt by a collecting bank of a final settlement for an item is a realization on its security interest in the item, accompanying documents and proceeds. To the extent and so long as the bank does not receive final settlement for the item or give up possession of the item or accompanying documents for purposes other than collection, the security interest continues and is subject to the provisions of chapter 9A except that:   (a) no security agreement is necessary to make the security interest enforceable (30-9A-203(2)(c)(i)); and   (b) no filing is required to perfect the security interest; and   (c) the security interest has priority over conflicting perfected security interests in the item, accompanying documents or proceeds.   History: En. Sec. 4-208, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-208; amd. Sec. 7, Ch. 402, L. 1983; amd. Sec. 173, Ch. 410, L. 1991; amd. Sec. 141, Ch. 305, L. 1999.
MT Code § 30-4-209 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-209. When bank gives value for purposes of holder in due course

  30-4-209. When bank gives value for purposes of holder in due course. For purposes of determining its status as a holder in due course, a bank has given value to the extent it has a security interest in an item, provided the bank otherwise complies with the requirements of 30-3-302 on what constitutes a holder in due course.   History: En. Sec. 4-209, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-209; amd. Sec. 174, Ch. 410, L. 1991.
MT Code § 30-4-210 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-210. Presentment by notice of item not payable by, through, or at a bank -- liability of secondary parties

  30-4-210. Presentment by notice of item not payable by, through, or at a bank -- liability of secondary parties. (1) Unless otherwise instructed, a collecting bank may present an item not payable by, through, or at a bank by sending to the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the party to accept or pay under 30-3-504 by the close of the bank's next banking day after it knows of the requirement.   (2) If presentment is made by notice and neither payment, acceptance, nor request for compliance with a requirement under 30-3-504 is received by the close of business on the day after maturity or in the case of demand items by the close of business on the third banking day after notice was sent, the presenting bank may treat the item as dishonored and charge any secondary party by sending it notice of the facts.   History: En. Sec. 4-210, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-210; amd. Sec. 175, Ch. 410, L. 1991.
MT Code § 30-4-211 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-211. Medium and time of settlement by bank

  30-4-211. Medium and time of settlement by bank. (1) With respect to settlement by a bank, the medium and time of settlement may be prescribed by federal reserve regulations or circulars, clearinghouse rules, and the like or by agreement. In the absence of such prescription:   (a) the medium of settlement is cash or credit to an account in a federal reserve bank of or specified by the person to receive settlement; and   (b) the time of settlement is:   (i) with respect to tender of settlement by cash, a cashier's check, or a teller's check, when the cash or check is sent or delivered;   (ii) with respect to tender of settlement by credit in an account in a federal reserve bank, when the credit is made;   (iii) with respect to tender of settlement by a credit or debit to an account in a bank, when the credit or debit is made or, in the case of tender of settlement by authority to charge an account, when the authority is sent or delivered; or   (iv) with respect to tender of settlement by a funds transfer, when payment is made pursuant to 30-4A-406(1) to the person receiving settlement.   (2) If the tender of settlement is not by a medium authorized by subsection (1) or the time of settlement is not fixed by subsection (1), no settlement occurs until the tender of settlement is accepted by the person receiving settlement.   (3) If settlement for an item is made by cashier's check or teller's check and the person receiving settlement, before its midnight deadline:   (a) presents or forwards the check for collection, settlement is final when the check is finally paid; or   (b) fails to present or forward the check for collection, settlement is final at the midnight deadline of the person receiving settlement.   (4) If settlement for an item is made by giving authority to charge the account of the bank giving settlement in the bank receiving settlement, settlement is final when the charge is made by the bank receiving settlement if there are funds available in the account for the amount of the item.   History: En. Sec. 4-211, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-211; amd. Sec. 176, Ch. 410, L. 1991.
MT Code § 30-4-212 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-212. Right of charge-back or refund -- liability of collecting bank -- return of item

  30-4-212. Right of charge-back or refund -- liability of collecting bank -- return of item. (1) If a collecting bank has made provisional settlement with its customer for an item and fails by reason of dishonor, suspension of payments by a bank or otherwise to receive settlement for the item which is or becomes final, the bank may revoke the settlement given by it, charge back the amount of any credit given for the item to its customer's account or obtain refund from its customer, whether or not it is able to return the items if by its midnight deadline or within a longer reasonable time after it learns the facts it returns the item or sends notification of the facts. If the return or notice is delayed beyond the bank's midnight deadline or a longer reasonable time after it learns the facts, the bank may revoke the settlement, charge back the credit, or obtain refund from its customer but is liable for any loss resulting from the delay. These rights to revoke, charge back and obtain refund terminate if and when a settlement for the item received by the bank is or becomes final (subsections (3) and (4) of 30-4-211 and subsections (2) and (3) of 30-4-213).   (2) A collecting bank returns an item when it is sent or delivered to the bank's customer or transferor or pursuant to its instructions.   (3) A depositary bank which is also the payor may charge back the amount of an item to its customer's account or obtain refund in accordance with the section governing return of an item received by a payor bank for credit on its books (30-4-301).   (4) The right to charge back is not affected by:   (a) previous use of a credit given for the item; or   (b) failure by any bank to exercise ordinary care with respect to the item but any bank so failing remains liable.   (5) A failure to charge back or claim refund does not affect other rights of the bank against the customer or any other party.   (6) If credit is given in dollars as the equivalent of the value of an item payable in foreign money, the dollar amount of any charge-back or refund must be calculated on the basis of the bank-offered spot rate for the foreign money prevailing on the day when the person entitled to the charge-back or refund learns that it will not receive payment in ordinary course.   History: En. Sec. 4-212, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-212; amd. Sec. 177, Ch. 410, L. 1991.
MT Code § 30-4-213 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-213. Final payment of item by payor bank -- when provisional debits and credits become final -- when certain credits become available for withdrawal

  30-4-213. Final payment of item by payor bank -- when provisional debits and credits become final -- when certain credits become available for withdrawal. (1) An item is finally paid by a payor bank when the bank has done any of the following, whichever happens first:   (a) paid the item in cash; or   (b) settled for the item without having a right to revoke the settlement under statute, clearinghouse rule, or agreement; or   (c) made a provisional settlement for the item and failed to revoke the settlement in the time and manner permitted by statute, clearinghouse rule, or agreement.   (2) If provisional settlement for an item between the presenting and payor banks is made through a clearinghouse or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks or between the presenting and successive prior collecting banks seriatim, they become final upon final payment of the item by the payor bank.   (3) If a collecting bank receives a settlement for an item which is or becomes final (subsections (3) and (4) of 30-4-211 and subsection (2) of this section) the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final.   (4) Subject to applicable law stating a time for availability of funds and any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer's account becomes available for withdrawal as of right:   (a) if the bank has received a provisional settlement for the item, when such settlement becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time;   (b) if the bank is both the depositary bank and the payor bank and the item is finally paid, at the opening of the bank's second banking day following receipt of the item.   (5) Subject to applicable law stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank's next banking day after receipt of the deposit.   History: En. Sec. 4-213, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-213; amd. Sec. 178, Ch. 410, L. 1991; amd. Sec. 134, Ch. 42, L. 1997.
MT Code § 30-4-214 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-214. Insolvency and preference

  30-4-214. Insolvency and preference. (1) Any item in or coming into the possession of a payor or collecting bank which suspends payment and which item is not finally paid shall be returned by the receiver, trustee or agent in charge of the closed bank to the presenting bank or the closed bank's customer.   (2) If a payor bank finally pays an item and suspends payments without making a settlement for the item with its customer or the presenting bank which settlement is or becomes final, the owner of the item has a preferred claim against the payor bank.   (3) If a payor bank gives or a collecting bank gives or receives a provisional settlement for an item and thereafter suspends payments, the suspension does not prevent or interfere with the settlement becoming final if such finality occurs automatically upon the lapse of certain time or the happening of certain events (subsections (3) and (4) of 30-4-211 and subsections (1)(c), (2), and (3) of 30-4-213).   (4) If a collecting bank receives from subsequent parties settlement for an item which settlement is or becomes final and suspends payments without making a settlement for the item with its customer that is or becomes final, the owner of the item has a preferred claim against the collecting bank.   History: En. Sec. 4-214, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-214; amd. Sec. 179, Ch. 410, L. 1991.
MT Code § 30-4-216 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 2. Collection of Items Depositary and Collecting Banks|30-4-216. Encoding and retention warranties

  30-4-216. Encoding and retention warranties. (1) A person that encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty.   (2) A person that undertakes to retain an item pursuant to a truncation agreement warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the truncation agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.   (3) A person to whom warranties are made under this section and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach plus expenses and loss of interest incurred as a result of the breach.   History: En. Sec. 172, Ch. 410, L. 1991.
MT Code § 30-4-301 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 3. Collection of Items -- Payor Banks|30-4-301. Deferred posting -- recovery of payment by return of items -- time of dishonor -- return of items by payor bank

  30-4-301. Deferred posting -- recovery of payment by return of items -- time of dishonor -- return of items by payor bank. (1) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover any settlement if before it has paid the item in cash (subsection (1)(a) of 30-4-213) and before its midnight deadline it:   (a) returns the item; or   (b) sends written notice of dishonor or nonpayment if the item is unavailable for return.   (2) If a demand item is received by a payor bank for credit on its books it may return such item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in the preceding subsection.   (3) Unless previous notice of dishonor has been sent an item is dishonored at the time when for purposes of dishonor it is returned or notice sent in accordance with this section.   (4) An item is returned:   (a) as to an item presented through a clearinghouse, when it is delivered to the presenting or last collecting bank or to the clearinghouse or is sent or delivered in accordance with clearinghouse rules; or   (b) in all other cases, when it is sent or delivered to the bank's customer or transferor or pursuant to instructions.   History: En. Sec. 4-301, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-301; amd. Sec. 180, Ch. 410, L. 1991.
MT Code § 30-4-302 (2021)
2021 Montana Code Annotated|Title 30. Trade and Commerce|Chapter 4. Uniform Commercial Code Bank Deposits and Collections|Part 3. Collection of Items -- Payor Banks|30-4-302. Payor bank's responsibility for late return of item

  30-4-302. Payor bank's responsibility for late return of item. (1) If an item is presented to and received by a payor bank the bank is accountable for the amount of:   (a) a demand item, other than a documentary draft, whether properly payable or not if the bank, in any case in which it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether it is also the depositary bank, does not settle for or return the item or send notice of dishonor until after its midnight deadline; or   (b) any other properly payable item unless within the time allowed for acceptance or payment of that item the bank either accepts or pays the item or returns it and accompanying documents.   (2) The liability of a payor bank to pay an item pursuant to subsection (1) is subject to defenses based on breach of a presentment warranty (30-4-215) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.   History: En. Sec. 4-302, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-302; amd. Sec. 75, Ch. 370, L. 1987; amd. Sec. 181, Ch. 410, L. 1991.