reglab/housing_qa huggingface dataset:
DC Code § 28:4-211 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 2 - Collection of Items: Depositary and Collecting Banks|§ 28:4-211. 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, if the bank otherwise complies with the requirements of section 28:3-302 on what constitutes a holder in due course.  (Dec. 30, 1963, 77 Stat. 700, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-211. 1973 Ed., § 28:4-209. Section References This section is referenced in § 28:5-102. Uniform Commercial Code Comment The section completes the thought of the previous section and makes clear that a security interest in an item is “value” for the purpose of determining the holder’s status as a holder in due course. The provision is in accord with the prior law (N.I.L. Section 27) and with Article 3 ( Section 3-303). The section does not prescribe a security interest under Section 4-210 as a test of “value” generally because the meaning of “value” under other Articles is adequately defined in Section 1-201. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.
DC Code § 28:4-212 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 2 - Collection of Items: Depositary and Collecting Banks|§ 28:4-212. Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser

(a) 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 record providing 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 section 28:3-501 by the close of the bank’s next banking day after it knows of the requirement. (b) If presentment is made by notice and payment, acceptance, or request for compliance with a requirement under section 28:3-501 is not 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 drawer or indorser by sending it notice of the facts.  (Dec. 30, 1963, 77 Stat. 701, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467; Apr. 27, 2013, D.C. Law 19-299, § 6(g), 60 DCR 2634.)  Prior Codifications 1981 Ed., § 28:4-212. 1973 Ed., § 28:4-210. Effect of Amendments The 2013 amendment by D.C. Law 19-299 substituted “record providing notice” for “written notice” in (a). Uniform Commercial Code Comment 1. This section codifies a practice extensively followed in presentation of trade acceptances and documentary and other drafts drawn on nonbank payors. It imposes a duty on the payor to respond to the notice of the item if the item is not to be considered dishonored. Notice of such a dishonor charges drawers and indorsers. Presentment under this section is good presentment under Article 3. See Section 3-501. 2. A drawee not receiving notice is not, of course, liable to the drawer for wrongful dishonor. 3. A bank so presenting an instrument must be sufficiently close to the drawee to be able to exhibit the instrument on the day it is requested to do so or the next business day at the latest. Reason for 1990 Change [D.C. Law 10-249] The term “secondary party” is no longer used in Articles 3 and 4. The other modifications are made to conform with current legislative drafting practices, with no intent to change substance.
DC Code § 28:4-404 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 3 - Collection of Items: Payor Banks|§ 28:4-404. Bank not obliged to pay check more than 6 months old

A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than 6 months after its date, but it may charge its customer’s account for a payment made thereafter in good faith.  (Dec. 30, 1963, 77 Stat. 706, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-404. 1973 Ed., § 28:4-404. Uniform Commercial Code Comment This section incorporates a type of statute that had been adopted in 26 jurisdictions before the Code. The time limit is set at six months because banking and commercial practice regards a check outstanding for longer than that period as stale, and a bank will normally not pay such a check without consulting the depositor. It is therefore not required to do so, but is given the option to pay because it may be in a position to know, as in the case of dividend checks, that the drawer wants payment made. Certified checks are excluded from the section because they are the primary obligation of the certifying bank ( Sections 3-409 and 3-413). The obligation runs directly to the holder of the check. The customer’s account was presumably charged when the check was certified.
DC Code § 28:4-501 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 3 - Collection of Items: Payor Banks|§ 28:4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

A bank that takes a documentary 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.  (Dec. 30, 1963, 77 Stat. 707, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-501. 1973 Ed., § 28:4-501. Uniform Commercial Code Comment This section states the duty of a bank handling a documentary draft for a customer. “Documentary draft” is defined in Section 4-104. The duty stated exists even if the bank has bought the draft. This is because to the customer the draft normally represents an underlying commercial transaction, and if that is not going through as planned the customer should know it promptly. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.
DC Code § 28:4-502 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 3 - Collection of Items: Payor Banks|§ 28:4-502. Presentment of “on arrival” drafts

If a draft or the relevant instructions require presentment “on arrival”, “when goods arrive”, or the like, 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 must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or it learns of the arrival of the goods.  (Dec. 30, 1963, 77 Stat. 707, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-502. 1973 Ed., § 28:4-502. Uniform Commercial Code Comment The section is designed to establish a definite rule for “on arrival” drafts. The term includes not only drafts drawn payable “on arrival” but also drafts forwarded with instructions to present “on arrival.” The term refers to the arrival of the relevant goods. Unless a bank has actual knowledge of the arrival of the goods, as for example, when it is the “notify” party on the bill of lading, the section only requires the exercise of such judgment in estimating time as a bank may be expected to have. Commonly the buyer-drawee will want the goods and will therefore call for the documents and take up the draft when they do arrive. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.
DC Code § 28:4-503 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 3 - Collection of Items: Payor Banks|§ 28:4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need

Unless otherwise instructed and except as provided in Article 5, a bank presenting a documentary draft: (1) Must deliver the documents to the drawee on acceptance of the draft if it is payable more than 3 days after presentment; otherwise, only on payment; and (2) Upon dishonor, either in the case of presentment for acceptance or presentment for payment, 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 must use diligence and good faith to ascertain the reason for dishonor, must notify its transferor of the dishonor and of the results of its effort to ascertain the reasons therefor, and must 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.  (Dec. 30, 1963, 77 Stat. 707, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-503. 1973 Ed., § 28:4-503. Uniform Commercial Code Comment 1. This section states the rules governing, in the absence of instructions, the duty of the presenting bank in case either of honor or of dishonor of a documentary draft. The section should be read in connection with Section 2-514 on when documents are deliverable on acceptance, when on payment. 2. If the draft is drawn under a letter of credit, Article 5 controls. See Sections 5-109 through 5-114. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.
DC Code § 28:4-504 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Part 3 - Collection of Items: Payor Banks|§ 28:4-504. Privilege of presenting bank to deal with goods; security interest for expenses

(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 subsection (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.  (Dec. 30, 1963, 77 Stat. 708, Pub. L. 88-243, § 1; Mar. 23, 1995, D.C. Law 10-249, § 2(e), 42 DCR 467.)  Prior Codifications 1981 Ed., § 28:4-504. 1973 Ed., § 28:4-504. Uniform Commercial Code Comment The section gives the presenting bank, after dishonor, a privilege to deal with the goods in any commercially reasonable manner pending instructions from its transferor and, if still unable to communicate with its principal after a reasonable time, a right to realize its expenditures as if foreclosing on an unpaid seller’s lien ( Section 2-706). The provision includes situations in which storage of goods or other action becomes commercially necessary pending receipt of any requested instructions, even if the requested instructions are later received. The “reasonable manner” referred to means one reasonable in the light of business factors and the judgment of a business man. Reason for 1990 Change [D.C. Law 10-249] Modified to conform with current drafting practices; no intent to change substance.
DC Code § 28:4A-101 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4A - Funds Transfers|Part 1 - Subject Matter and Definitions|§ 28:4A-101. Short title

This article may be cited as “Uniform Commercial Code — Funds Transfers.”  (Apr. 30, 1992, D.C. Law 9-95, § 2(c), 39 DCR 1595.)  Prior Codifications 1981 Ed., § 28:4A-101.
DC Code § 28:4A-103 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4A - Funds Transfers|Part 1 - Subject Matter and Definitions|§ 28:4A-103. Payment order — definitions

(a) In this article: (1) “Beneficiary” means the person to be paid by the beneficiary’s bank. (2) “Beneficiary’s bank” means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the beneficiary if the order does not provide for payment to an account. (3) “Payment order” means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if: (A) the instruction does not state a condition to payment to the beneficiary other than time of payment, (B) the receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender, and (C) the instruction is transmitted by the sender directly to the receiving bank or to an agent, funds-transfer system, or communication system for transmittal to the receiving bank. (4) “Receiving bank” means the bank to which the sender’s instruction is addressed. (5) “Sender” means the person giving the instruction to the receiving bank. (b) If an instruction complying with subsection (a)(3) of this section is to make more than one payment to a beneficiary, the instruction is a separate payment order with respect to each payment. (c) A payment order is issued when it is sent to the receiving bank.  (Apr. 30, 1992, D.C. Law 9-95, § 2(c), 39 DCR 1595.)  Prior Codifications 1981 Ed., § 28:4A-103. Section References This section is referenced in § 28:4A-105. Uniform Commercial Code Comment This section is discussed in the Comment following Section 4A-104.
DC Code § 28:4A-106 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4A - Funds Transfers|Part 1 - Subject Matter and Definitions|§ 28:4A-106. Time payment order is received

(a) The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in § 28:1-202. 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 cancelling 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 cancelling 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 this article refers to an execution date or payment date or states 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 this article.  (Apr. 30, 1992, D.C. Law 9-95, § 2(c), 39 DCR 1595; Apr. 27, 2013, D.C. Law 19-299, § 7(b), 60 DCR 2634.)  Prior Codifications 1981 Ed., § 28:4A-106. Effect of Amendments The 2013 amendment by D.C. Law 19-299 substituted “§ 28:1-202” for “§ 28:1-201(27)” in the first sentence of (a). Uniform Commercial Code Comment The time that a payment order is received by a receiving bank usually defines the payment date or the execution date of a payment order. Section 4A-401 and Section 4A-301. The time of receipt of a payment order, or communication cancelling or amending a payment order is defined in subsection (a) by reference to the rules stated in Section 1-201(27). Thus, time of receipt is determined by the same rules that determine when a notice is received. Time of receipt, however, may be altered by a cut-off time.
DC Code § 28:4A-108 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4A - Funds Transfers|Part 1 - Subject Matter and Definitions|§ 28:4A-108. Relationship to Electronic Fund Transfers Act

(a) Except as otherwise provided in subsection (b) of this section, this article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act, approved November 10, 1978 (92 Stat. 3728; 15 U.S.C. § 1693 et seq.). (b) This article applies to a funds transfer that is a remittance transfer as defined in section 919(g)(2) of the Electronic Fund Transfer Act, approved July 21, 2010 (124 Stat. 2065; 15 U.S.C. § 1693o-1(g)(2)), unless the remittance transfer is an electronic fund transfer as defined in section 903(7) of the Electronic Fund Transfer Act, approved November 10, 1978 (92 Stat. 3728; 15 U.S.C. § 1693a(7)). (c) In the event of an inconsistency between a provision of this article and the Electronic Fund Transfer Act, the Electronic Fund Transfer Act governs to the extent of the inconsistency.  (Apr. 30, 1992, D.C. Law 9-95, § 2(c), 39 DCR 1595; Apr. 27, 2013, D.C. Law 19-299, § 7(c), 60 DCR 2634.)  Prior Codifications 1981 Ed., § 28:4A-108. Section References This section is referenced in § 28:4A-102. Effect of Amendments The 2013 amendment by D.C. Law 19-299 rewrote the section, which read: “This article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (title XX, Public Law 95-630, 92 Stat. 3728, 15 U.S.C. § 1693 et seq.) as amended from time to time.” Uniform Commercial Code Comment The Electronic Fund Transfer Act of 1978 is a federal statute that covers a wide variety of electronic funds transfers involving consumers. The types of transfers covered by the federal statute are essentially different from the wholesale wire transfers that are the primary focus of Article 4A. Section 4A-108 excludes a funds transfer from Article 4A if any part of the transfer is covered by the federal law. Existing procedures designed to comply with federal law will not be affected by Article 4A. The effect of Section 4A-108 is to make Article 4A and EFTA mutually exclusive. For example, if a funds transfer is to a consumer account in the beneficiary’s bank and the funds transfer is made in part by use of Fedwire and in part by means of an automated clearing house, EFTA applies to the ACH part of the transfer but not to the Fedwire part. Under Section 4A-108, Article 4A does not apply to any part of the transfer. However, in the absence of any law to govern the part of the funds transfer that is not subject to EFTA, a court might apply appropriate principles from Article 4A by analogy.  Part 2.   Issue and Acceptance of Payment Order.
DC Code § 28:4A-201 (2021)
2021 District of Columbia Code|Title 28 - Commercial Instruments and Transactions. [Enacted title]|Subtitle I - Uniform Commercial Code|Article 4A - Funds Transfers|Part 1 - Subject Matter and Definitions|§ 28:4A-201. Security procedure

“Security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment order or communication amending or cancelling a payment order is that of the customer, or (ii) 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.  (Apr. 30, 1992, D.C. Law 9-95, § 2(c), 39 DCR 1595.)  Prior Codifications 1981 Ed., § 28:4A-201. Section References This section is referenced in § 28:4A-105. Uniform Commercial Code Comment A large percentage of payment orders and communications amending or cancelling payment orders are transmitted electronically and it is standard practice to use security procedures that are designed to assure the authenticity of the message. Security procedures can also be used to detect error in the content of messages or to detect payment orders that are transmitted by mistake as in the case of multiple transmission of the same payment order. Security procedures might also apply to communications that are transmitted by telephone or in writing. Section 4A-201 defines these security procedures. The definition of security procedure limits the term to a procedure “established by agreement of a customer and a receiving bank.” The term does not apply to procedures that the receiving bank may follow unilaterally in processing payment orders. The question of whether loss that may result from the transmission of a spurious or erroneous payment order will be borne by the receiving bank or the sender or purported sender is affected by whether a security procedure was or was not in effect and whether there was or was not compliance with the procedure. Security procedures are referred to in Sections 4A-202 and 4A-203, which deal with authorized and verified payment orders, and Section 4A-205, which deals with erroneous payment orders.