reglab/housing_qa huggingface dataset:
Ohio Rev Code § 1304.27 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.27 | Deferred Posting - Recovery of Payment by Return of Items - Time of Dishonor - Return of Items by Payor Bank - Ucc 4-301.

Effective: April 6, 2017|Latest Legislation:  House Bill 463 - 131st General Assembly|(A) 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 the settlement if before it has made final payment and before its midnight deadline it does any of the following:(1) It returns the item. (2) It returns an image of the item, if the party to which the return is made has entered into an agreement to accept an image as a return of the item and the image is returned in accordance with that agreement. (3) It sends a record providing notice of dishonor or nonpayment if the item is unavailable for return.(B) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount of any credit withdrawn by its customer, if it acts within the time limit and in the manner specified in division (A) of this section.(C) Unless previous notice of dishonor has been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. (D) An item is returned at either of the following times:(1) As to an item presented through a clearing house, when it is delivered to the presenting or last collecting bank or to the clearing house or is sent or delivered in accordance with its rules; (2) In all other cases, when it is sent or delivered to the bank's customer or transferor or pursuant to the customer's or transferor's instructions.
Ohio Rev Code § 1304.28 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.28 | Payor Bank's Responsibility for Late Return of Item - Ucc 4-302.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(A) If an item is presented to and received by a payor bank, the bank is accountable for either of the following:(1) The amount of 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 depository bank, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether or not it is also the depository bank, does not pay or return the item or send notice of dishonor until after its midnight deadline;(2) The amount of 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.(B) The liability of a payor bank to pay an item pursuant to division (A) of this section is subject to defenses based on breach of a presentment warranty or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.
Ohio Rev Code § 1304.29 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.29 | When Items Subject to Notice, Stop-Payment Order, Legal Process or Setoff - Order in Which Items May Be Charged or Certified - Ucc 4-303.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(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 on that knowledge, notice, order, or process expires or the setoff is exercised after the earliest of the following:(1) The bank accepts or deposits the item.(2) The bank pays the item in cash.(3) The bank settles for the item without having a right to revoke the settlement under statute, clearing house rule, or agreement.(4) The bank becomes accountable for the amount of the item under division (A)(3) of section 1304.25 and section 1304.28 of the Revised Code dealing with the payor bank's responsibility for late return of items.(5) With respect to checks, a cut off hour no earlier than one hour after the opening of the next banking day on which the bank received the check and no later than the close of that next banking day or, if no cut off hour is fixed, the close of the next banking day on which the bank received the check.(B) Subject to division (A) of this section, items may be accepted, paid, certified, or charged to the indicated account of its customer in any order.
Ohio Rev Code § 1304.30 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.30 | When Bank May Charge Customer's Account - Ucc 4-401.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(A) A bank may charge against the account of a customer an item that is properly payable from that account even though the charge creates an overdraft. An item is properly payable if it is authorized by the customer and is in accordance with any agreement between the customer and bank.(B) A customer is not liable for the amount of an overdraft if the customer neither signed the item nor benefited from the proceeds of the item.(C) A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though the payment was made before the date of the check, unless the customer has given notice to the bank of the postdating and describes the check with reasonable certainty. The notice is effective for the period stated in division (B) of section 1304.32 of the Revised Code for stop payment orders and must be received at a time and in a manner that affords the bank a reasonable opportunity to act on it before the bank takes any action with respect to the check described in section 1304.29 of the Revised Code. If a bank charges against the account of a customer a check before the date stated in the notice of postdating, the bank is liable for damages for the loss resulting from its act. The loss may include damages for dishonor of subsequent items under section 1304.31 of the Revised Code.(D) A bank that in good faith makes payment to a holder may charge the indicated account of its customer according to either of the following:(1) Original terms of the altered item;(2) The terms of the completed item, even though the bank knows the item has been completed unless the bank has notice that the completion was improper.
Ohio Rev Code § 1304.31 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.31 | Bank's Liability to Customer for Wrongful Dishonor - Time of Determining Insufficiency of Account - Ucc 4-402.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(A) Except as otherwise provided in sections 1304.01 to 1304.40 of the Revised Code, a payor bank wrongfully dishonors an item if it dishonors an item that is properly payable, but a bank may dishonor an item that would create an overdraft unless it has agreed to pay the overdraft.(B) A payor bank is liable to its customer for damages proximately caused by the wrongful dishonor of an item. Liability is limited to actual damages proved and damages may include damages for an arrest or prosecution of the customer or other consequential damages. Whether any consequential damages are proximately caused by the wrongful dishonor is a question of fact to be determined in each case.(C) A payor bank's determination of the customer's account balance on which a decision to dishonor for insufficiency of available funds is based may be made at any time between the time the item is received by the payor bank and the time that the payor bank returns the item or gives notice in lieu of return, and no more than one determination need be made. If, at the election of the payor bank, a subsequent balance determination is made for the purpose of reevaluating the bank's decision to dishonor the item, the account balance at that time is determinative of whether a dishonor for insufficiency of available funds is wrongful.
Ohio Rev Code § 1304.32 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.32 | Customer's Right to Stop Payment - Burden of Proof of Loss - Ucc 4-403.

Effective: April 6, 2017|Latest Legislation:  House Bill 463 - 131st General Assembly|(A) A customer, or any person authorized to draw on the account if there is more than one person, may stop payment of any item drawn on the customer's account or close the account by an order to the bank describing the item or account with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on it before any action by the bank with respect to the item described in section 1304.29 of the Revised Code. If the signature of more than one person is required to draw on an account, any of these persons may stop payment or close the account. (B) A stop payment order is effective for six months, but it lapses after fourteen calendar days if the original order was oral and was not confirmed in a record within that period. A stop payment order may be renewed for additional six- month periods by a record given to the bank within a period during which the stop payment order is effective.(C) The burden of establishing the fact and amount of loss resulting from the payment of an item contrary to a stop payment order or order to close an account is on the customer. The loss from payment of an item contrary to a stop payment order may include damages for dishonor of subsequent items under section 1304.31 of the Revised Code.
Ohio Rev Code § 1304.33 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.33 | Bank Not Obliged to Pay Check More Than Six Months Old - Ucc 4-404.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, that is presented more than six months after its date, but it may charge its customer's account for a payment made in good faith after its date.
Ohio Rev Code § 1304.34 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.34 | Death or Incompetence of Customer - Ucc 4-405.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(A) A payor or collecting bank's authority to accept, pay, or collect an item or to account for proceeds of its collection if otherwise effective is not rendered ineffective by incompetence of a customer of either bank existing at the time the item is issued or its collection is undertaken if the bank does not know of an adjudication of incompetence. Neither death nor incompetence of a customer revokes the authority to accept, pay, collect, or account until the bank knows of the fact of death or of an adjudication of incompetence and has reasonable opportunity to act on it.(B) Even with knowledge, a bank may for ten days after the date of death pay or certify checks drawn on or before that date unless ordered to stop payment by a person claiming an interest in the account.
Ohio Rev Code § 1304.36 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.36 | Payor Bank's Right to Subrogation on Improper Payment - Ucc 4-407.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|If a payor bank has paid an item over the order of the drawer or maker to stop payment, after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights of all of the following:(A) Any holder in due course on the item against the drawer or maker;(B) The payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose;(C) The drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
Ohio Rev Code § 1304.37 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.37 | Handling of Documentary Drafts - Duty to Send for Presentment and to Notify Customer of Dishonor - Ucc 4-501.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|A bank that takes a documenatary draft for collection shall present or send the draft and accompanying documents for presentment and upon learning that the draft has not been paid or accepted in due course shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
Ohio Rev Code § 1304.38 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.38 | Presentment of on Arrival Drafts - Ucc 4-502.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|If a draft or the relevant instructions require presentment "on arrival," "when goods arrive," or at a similar time related to the arrival of goods, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor. The bank shall notify its transferor of the refusal but is not required to present the draft again until it is instructed to do so or learns of the arrival of the goods.
Ohio Rev Code § 1304.39 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.39 | Responsibility of Presenting Bank for Documents and Goods - Report of Reasons for Dishonor - Referee in Case of Need - Ucc 4-503.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|Unless otherwise instructed and except as provided in sections 1305.01 to 1305.16 of the Revised Code, both of the following apply to a bank presenting a documentary draft:(A) The bank must deliver the documents to the drawee on acceptance of the draft if it is payable more than three days after presentment or only on payment if it is not payable more than three days after presentment.(B) Upon dishonor, either in the case of presentment for acceptance or presentment for payment, the bank may seek and follow instructions from any referee in case of need designated in the draft or, if the presenting bank does not choose to utilize the referee's services, it shall use diligence and good faith to ascertain the reason for dishonor, shall notify its transferor of the dishonor and of the results of its effort to ascertain the reasons for the dishonor, and shall request instructions. However, the presenting bank is under no obligation with respect to goods represented by the documents except to follow any reasonable instructions seasonably received. It has a right to reimbursement for any expense incurred in following instructions and to prepayment of or indemnity for those expenses.
Ohio Rev Code § 1304.40 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.40 | Privilege of Presenting Bank to Deal With Goods - Security Interest for Expenses - Ucc 4-504.

Effective: August 19, 1994|Latest Legislation:  Senate Bill 147 - 120th General Assembly|(A) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner.(B) For its reasonable expenses incurred by action under division (A) of this section, the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien.
Ohio Rev Code § 1304.52 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.52 | Application of Provisions - Ucc 4a-102.

Effective: October 23, 1991|Latest Legislation:  House Bill 221 - 119th General Assembly|Except as otherwise provided in section 1304.55 of the Revised Code, sections 1304.51 to 1304.85 of the Revised Code apply to funds transfers as defined in section 1304.51 of the Revised Code.
Ohio Rev Code § 1304.53 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.53 | Time Payment Order Is Received - Ucc 4a-106.

Effective: June 29, 2011|Latest Legislation:  House Bill 9 - 129th General Assembly|(A) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice as provided in section 1301.202 of the Revised Code. A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and communications canceling or amending payment orders. Different cut-off times may apply to payment orders, cancellations, or amendments, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication canceling or amending a payment order is received after the close of a funds-transfer business day or after the appropriate cut-off time on a funds-transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds-transfer business day. (B) If sections 1304.51 to 1304.85 of the Revised Code refer to an execution date or payment date or state a day on which a receiving bank is required to take action, and the date or day does not fall on a funds-transfer business day, the next day that is a funds-transfer business day is treated as the date or day stated, unless the contrary is stated in these sections.
Ohio Rev Code § 1304.54 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.54 | Federal Reserve Regulations and Operating Circulars - Ucc 4a-107.

Effective: October 23, 1991|Latest Legislation:  House Bill 221 - 119th General Assembly|Regulations of the board of governors of the federal reserve system and operating circulars of the federal reserve banks supersede any inconsistent provision of sections 1304.51 to 1304.85 of the Revised Code to the extent of the inconsistency.
Ohio Rev Code § 1304.55 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.55 | Applicability of Orc Provisions for Consumer Transactions Governed by Federal Law - Ucc 4a-108.

Effective: March 22, 2013|Latest Legislation:  Senate Bill 333 - 129th General Assembly|(A) Except as otherwise provided in division (B) of this section, sections 1304.51 to 1304.85 of the Revised Code do not apply to a funds transfer any part of which is governed by the "Electronic Fund Transfer Act," 92 Stat. 3728 (1978), 15 U.S.C.A. 1693, as amended. (B) Sections 1304.51 to 1304.85 of the Revised Code apply to a remittance transfer as defined in the "Electronic Fund Transfer Act," 124 Stat. 2065 (2010), 15 U.S.C. 1693o-1, as amended, unless the remittance transfer is an electronic fund transfer as defined in the "Electronic Fund Transfer Act," 92 Stat. 3728 (1978), 15 U.S.C. 1693a, as amended.(C) In a funds transfer to which sections 1304.51 to 1304.85 of the Revised Code apply, in the event of an inconsistency between an applicable provision of sections 1304.51 to 1304.85 of the Revised Code and an applicable provision of the "Electronic Fund Transfer Act," 92 Stat. 3728 (1978), 15 U.S.C. 1693, as amended, the provisions of the Electronic Fund Transfer Act govern to the extent of the inconsistency.
Ohio Rev Code § 1304.56 (2021)
2021 Ohio Revised Code|Title 13 | Commercial Transactions|Chapter 1304 | Bank Deposits and Collections|Section 1304.56 | Security Procedure - Ucc 4a-201.

Effective: October 23, 1991|Latest Legislation:  House Bill 221 - 119th General Assembly|"Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of verifying that a payment order or communication amending or cancelling a payment order is that of the customer, or detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.