reglab/housing_qa huggingface dataset:
MA Gen L ch 4 § 4-401 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-401 - When Bank May Charge Customer's Account

Section 4–401. (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 payment was made before the date of the check, unless the customer has given notice to the bank of the postdating describing the check with reasonable certainty. The notice is effective for the period stated in subsection (b) of section 4–403 for stop-payment orders, and must be received at such time and in such manner as to afford the bank a reasonable opportunity to act on it before the bank takes any action with respect to the check described in section 4–303. 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 4–402.  (d) A bank that in good faith makes payment to a holder may charge the indicated account of its customer according to:  (1) the original terms of the altered item; or  (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.
MA Gen L ch 4 § 4-402 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-402 - Bank's Liability to Customer for Wrongful Dishonor; Time of Determining Insufficiency of Account

Section 4–402. (a) Except as otherwise provided in this Article, 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 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.
MA Gen L ch 4 § 4-404 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-404 - Bank Not Obliged to Pay Check More Than Six Months Old

Section 4–404. 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 six months after its date, but it may charge its customer's account for a payment made thereafter in good faith.
MA Gen L ch 4 § 4-405 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-405 - Death or Incompetence of Customer

Section 4–405. (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.
MA Gen L ch 4 § 4-501 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-501 - Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor

Section 4–501. 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.
MA Gen L ch 4 § 4-210 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-210 - Security Interest of Collecting Bank in Items, Accompanying Documents and Proceeds

Section 4–210. (a) A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either:  (1) in case of an item deposited in an account, to the extent to which credit given for the item has been withdrawn or applied;  (2) 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  (3) if it makes an advance on or against the item.  (b) 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.  (c) 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. So long as the bank does not receive final settlement for the item or give up possession of the item or possession or control of the accompanying documents for purposes other than collection, the security interest continues to that extent and is subject to Article 9, but:  (1) no security agreement is necessary to make the security interest enforceable (section 9–203(b)(3)(A));  (2) no filing is required to perfect the security interest; and  (3) the security interest has priority over conflicting perfected security interests in the item, accompanying documents, or proceeds.
MA Gen L ch 4 § 4-502 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-502 - Presentment of ''on Arrival'' Drafts

Section 4–502. 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 learns of the arrival of the goods.
MA Gen L ch 4 § 4-303 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-303 - When Items Subject to Notice, Stop-Payment Order, Legal Process, or Setoff; Order in Which Items May Be Charged or Certified

Section 4–303. (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 thereon expires or the setoff is exercised after the earliest of the following:  (1) the bank accepts or certifies 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, clearinghouse rule, or agreement;  (4) the bank becomes accountable for the amount of the item under section 4–302 dealing with the payor bank's responsibility for late return of items; or  (5) with respect to checks, a cut-off hour no earlier than one hour after the opening of the next banking day after the 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 after the banking day on which the bank received the check.  (b) Subject to subsection (a), items may be accepted, paid, certified, or charged to the indicated account of its customer in any order.
MA Gen L ch 4 § 4-209 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-209 - Encoding and Retention Warranties

Section 4–209. (a) A person who 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.  (b) A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.  (c) 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.
MA Gen L ch 4 § 4-207 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-207 - Transfer Warranties

Section 4–207. (a) 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:  (1) the warrantor is a person entitled to enforce the item;  (2) all signatures on the item are authentic and authorized;  (3) the item has not been altered;  (4) the item is not subject to a defense or claim in recoupment (section 3–305(a)) of any party that can be asserted against the warrantor; and  (5) 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.  (b) If an item is dishonored, a customer or collecting bank transferring the item and receiving settlement or other consideration is obliged to pay the amount due on the item (i) according to the terms of the item at the time it was transferred, or (ii) if the transfer was of an incomplete item, according to its terms when completed as stated in sections 3–115 and 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 cannot disclaim its obligation under this subsection by an indorsement stating that it is made ''without recourse'' or otherwise disclaiming liability.  (c) A person to whom the warranties under subsection (a) 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.  (d) The warranties stated in subsection (a) 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.  (e) A cause of action for breach of warranty under this section accrues when the claimant has reason to know of the breach.
MA Gen L ch 4 § 4-503 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-503 - Responsibility of Presenting Bank for Documents and Goods; Report of Reasons for Dishonor; Referee in Case of Need

Section 4–503. 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 three 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.
MA Gen L ch 4 § 4-101 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-101 - Short Title

Section 4–101. This Article may be cited as Uniform Commercial Code - Bank Deposits and Collections.
MA Gen L ch 4 § 4-102 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-102 - Applicability

Section 4–102. (a) To the extent that items within this Article are also within Articles 3 and 8, they are subject to those Articles. If there is conflict, this Article governs Article 3, but Article 8 governs this Article.  (b) The liability of a bank for action or nonaction with respect to an item handled by it for purposes of presentment, payment, or collection is governed by the law of the place where the bank is located. In the case of action or nonaction by or at a branch or separate office of a bank, its liability is governed by the law of the place where the branch or separate office is located.
MA Gen L ch 4 § 4-103 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-103 - Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care

Section 4–103. (a) The effect of the provisions of this Article may be varied by agreement, but the parties to the agreement cannot disclaim a bank's responsibility for its lack of good faith or failure to exercise ordinary care or limit the measure of damages for the lack or failure. However, the parties may determine by agreement the standards by which the bank's responsibility is to be measured if those standards are not manifestly unreasonable.  (b) Federal Reserve regulations and operating circulars, clearinghouse rules, and the like, have the effect of agreements under subsection (a), whether or not specifically assented to by all parties interested in items handled.  (c) Action or nonaction approved by this Article or pursuant to Federal Reserve regulations or operating circulars is the exercise of ordinary care and, in the absence of special instructions, action or nonaction consistent with clearinghouse rules and the like or with a general banking usage not disapproved by this Article, is prima facie the exercise of ordinary care.  (d) The specification or approval of certain procedures by this Article is not disapproval of other procedures that may be reasonable under the circumstances.  (e) The measure of damages for failure to exercise ordinary care in handling an item is the amount of the item reduced by an amount that could not have been realized by the exercise of ordinary care. If there is also bad faith it includes any other damages, the party suffered as a proximate consequence.
MA Gen L ch 4 § 4-105 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-105 - Bank; Depositary Bank; Payor Bank; Intermediary Bank; Collecting Bank; Presenting Bank

Section 4–105. In this Article the following words shall have the following meanings unless the context clearly requires otherwise:  (1) ''Bank'', a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company.  (2) ''Depositary bank'', the first bank to take an item even though it is also the payor bank, unless the item is presented for immediate payment over the counter;  (3) ''Payor bank'', a bank that is the drawee of a draft;  (4) ''Intermediary bank'', a bank to which an item is transferred in course of collection except the depositary or payor bank;  (5) ''Collecting bank'', a bank handling an item for collection except the payor bank;  (6) ''Presenting bank'', a bank presenting an item except a payor bank.
MA Gen L ch 4 § 4-106 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-106 - Payable Through or Payable at Bank; Collecting Bank

Section 4–106. (a) If an item states that it is ''payable through'' a bank identified in the item, (i) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (ii) the item may be presented for payment only by or through the bank.  (b) If an item states that it is ''payable at'' a bank identified in the item, the item is equivalent to a draft drawn on the bank.  (c) If a draft names a nonbank drawee and it is unclear whether a bank named in the draft is a co-drawee or a collecting bank, the bank is a collecting bank.
MA Gen L ch 4 § 4-107 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-107 - Separate Office of Bank

Section 4–107. A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which action may be taken or notice or orders must be given under this Article and under Article 3.
MA Gen L ch 4 § 4-108 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-108 - Time of Receipt of Items

Section 4–108. (a) For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the day, a bank may fix an afternoon hour of 2 p.m. or later as a cut-off hour for the handling of money and items and the making of entries on its books.  (b) An item or deposit of money received on any day after a cut-off hour so fixed or after the close of the banking day may be treated as being received at the opening of the next banking day.
MA Gen L ch 4 § 4-109 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-109 - Delays

Section 4–109. (a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this chapter for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.  (b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this chapter or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank, and (ii) the bank exercises such diligence as the circumstances require.
MA Gen L ch 4 § 4-110 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-110 - Electronic Presentment

Section 4–110. (a) ''Agreement for electronic presentment'' means an agreement, clearinghouse rule, or Federal Reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of an item or information describing the item (''presentment notice'') rather than delivery of the item itself. The agreement may provide for procedures governing retention, presentment, payment, dishonor, and other matters concerning items subject to the agreement.  (b) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received.  (c) If presentment is made by presentment notice, a reference to ''item'' or ''check'' in this Article means the presentment notice unless the context otherwise indicates.
MA Gen L ch 4 § 4-111 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4 - Bank Deposits and Collections|Section 4-111 - Statute of Limitations

Section 4–111. An action to enforce an obligation, duty, or right arising under this Article must be commenced within three years after the cause of action accrues.