reglab/housing_qa huggingface dataset:
810 ILCS 5/4-110
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-110)Sec. 4-110.     Electronic presentment.(a) "Agreement for electronic presentment" means an agreement,  clearing-house 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 electronic presentment  agreement 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-111
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-111)Sec. 4-111.     Statute of limitations.     An action to enforce an  obligation, duty or right arising under this Article must be commenced  within 3 years after the cause of action accrues.    (Source: P.A. 87-582.)
810 ILCS 5/Art. 4 Pt. 2 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 PART 2.      COLLECTION OF ITEMS:  DEPOSITARY AND COLLECTING BANKS
810 ILCS 5/4-201
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-201)Sec. 4-201.         Status of collecting bank as agent and provisional status of  credits; applicability of Article; item indorsed "pay any bank".(a) Unless a contrary intent clearly appears and before the time that  a settlement given by a collecting bank for an item is or becomes final,  the bank, with respect to the item, is an agent or sub-agent of the owner of  the item and any settlement given for the item is provisional. This  provision applies regardless of the form of indorsement or lack of  indorsement and even though credit given for the item is subject to  immediate withdrawal as of right or is in fact withdrawn; but the  continuance of ownership of an item by its owner and any rights of the  owner to proceeds of the item are subject to rights of a collecting bank,  such as those resulting from outstanding advances on the item and  rights of recoupment or setoff. If an item is handled by banks  for purpose of presentment, payment, collection, or return, the  relevant provisions of this Article apply even though action of the parties  clearly establishes that a particular bank has purchased the item and is the  owner of it.(b) After an item has been indorsed with the words "pay any bank" or the  like, only a bank may acquire the rights of a holder until the item has been:(1) returned to the customer initiating collection; or(2) specially indorsed by a bank to a person who is     not a bank.   (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-202
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-202)Sec. 4-202.     Responsibility for collection or return; when action timely.(a) A collecting bank must exercise ordinary care in:(1) presenting an item or sending it for presentment;(2) sending notice of dishonor or nonpayment or     returning an item other than a documentary draft to the bank's transferor after learning that the item has not been paid or accepted, as the case may be;(3) settling for an item when the bank receives final     settlement; and(4) notifying its transferor of any loss or delay in     transit within a reasonable time after discovery thereof.(b) A collecting bank exercises ordinary care under subsection (a) by  taking proper action before its midnight deadline following receipt of an  item, notice, or settlement.  Taking proper action within a reasonably  longer time may constitute the exercise of ordinary care, but the bank has  the burden of establishing timeliness.(c) Subject to subsection (a) (1), a bank is not liable for the  insolvency, neglect, misconduct, mistake, or default of another bank or  person or for loss or destruction of an item in the  possession of others or in transit.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-203
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-203)Sec. 4-203.     Effect of instructions.     Subject to Article  3 concerning conversion of instruments (Section 3-420) and restrictive  indorsements (Section 3-206), only a collecting bank's transferor can give  instructions which affect the bank or constitute notice to it, and a  collecting bank is not liable to prior parties for any action taken  pursuant to the instructions or in accordance with any agreement  with its transferor.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-204
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-204)Sec. 4-204.         Methods of sending and presenting; sending directly to  payor bank.(a) A collecting bank shall send items by a reasonably prompt method, taking  into consideration relevant instructions, the nature of the item, the number of  those items on hand, the cost of collection involved, and the method generally  used by it or others to present those items.(b) A collecting bank may send:(1) an item directly to the payor bank;(2) an item to a nonbank payor if authorized by its     transferor; and(3) an item other than documentary drafts to a     nonbank payor, if authorized by Federal Reserve regulation or operating circular, clearing-house rule, or the like.(c) Presentment may be made by a presenting bank at a place where the  payor bank or other payor has requested that presentment be made.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-205
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-205)Sec. 4-205.     Depositary bank holder of unindorsed item.     If a customer  delivers an item 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 if the customer at the time of delivery was a holder of  the item, whether or not the customer indorses the item, and, if the bank  satisfies the other requirements of Section 3-302, it may be a holder in due  course; and(2) the depositary bank warrants to 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-206
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-206)Sec. 4-206.     Transfer between banks.     Any agreed method that identifies the  transferor bank is sufficient for the item's further transfer to another bank.    (Source: P.A. 87-582.)
810 ILCS 5/4-207
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-207)Sec. 4-207.     Transfer warranties.(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  may not 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.    (Source: P.A 87-582.)
810 ILCS 5/4-209
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-209)Sec. 4-209.     Encoding and retention warranties.(a) 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.(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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-210
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-210)Sec. 4-210. Security interest of collecting bank in items, accompanying  documents and proceeds.(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. (Source: P.A. 95-895, eff. 1-1-09; 96-328, eff. 8-11-09.)
810 ILCS 5/4-211
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-211)Sec. 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 3-302  on what constitutes a holder in due course.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-212
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-212)Sec. 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 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 Section 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 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-213
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-213)Sec. 4-213.     Medium and time of settlement by bank.(a) With respect to settlement by a bank, the medium and time of  settlement may be prescribed by Federal Reserve regulations or circulars,  clearing-house rules, and the like, or agreement. In the absence of such  prescription:(1) 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(2) the time of settlement is:(i) with respect to tender of settlement by cash,         a cashier's check, or 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 Section 4A-406(a) to the person receiving settlement.(b) If the tender of settlement is not by a medium authorized by  subsection (a) or the time of settlement is not fixed by subsection (a), no  settlement occurs until the tender of settlement is accepted by the person  receiving settlement.(c) If settlement for an item is made by cashier's check or teller's  check and the person receiving settlement, before its midnight deadline:(1) presents or forwards the check for collection,     settlement is final when the check is finally paid; or(2) fails to present or forward the check for     collection, settlement is final at the midnight deadline of the person receiving settlement.(d) 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.    (Source: P.A. 87-582.)
810 ILCS 5/4-214
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-214)Sec. 4-214.         Right of charge-back or refund; liability of collecting  bank; return of item.(a) 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  item, 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.(b) A collecting bank returns an item when it is sent or delivered to the  bank's customer or transferor or pursuant to its instructions.(c) A depositary bank that 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 (Section 4-301).(d) The right to charge back is not affected by:(1) previous use of a credit given for the item; or(2) failure by any bank to exercise ordinary care     with respect to the item, but a bank so failing remains liable.(e) A failure to charge back or claim refund does not affect other  rights of the bank against the customer or any other party.(f) 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-215
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-215)Sec. 4-215.         Final payment of item by payor bank; when provisional  debits and credits become final; when certain credits become available  for withdrawal.(a) An item is finally paid by a payor bank when the bank has first done  any of the following:(1) paid the item in cash;(2) settled for the item without having a right to     revoke the settlement under statute, clearing-house rule, or agreement; or(3) made a provisional settlement for the item and     failed to revoke the settlement in the time and manner permitted by statute, clearing-house rule, or agreement.(b) If provisional settlement for an item does not become final, the  item is not finally paid.(c) If provisional settlement for an item between the presenting and  payor banks is made through a clearing house 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 items by the payor bank.(d) If a collecting bank receives a settlement for an item which is or  becomes final, 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.(e) Subject to (i) applicable law stating a time for availability of  funds and (ii) 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:(1) if the bank has received a provisional settlement     for the item, when the 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;(2) 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.(f) 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.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/4-216
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 (from Ch. 26, par. 4-216)Sec. 4-216.     Insolvency and preference.(a) If an item is in or comes into the possession of a payor or collecting  bank that suspends payment and the item has not been finally paid, the item  must be returned by the receiver, trustee, or agent in charge of the closed  bank to the presenting bank or the closed bank's customer.(b) 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.(c) 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's becoming final  if the finality occurs automatically upon the lapse of certain time or the  happening of certain events.(d) If a collecting bank receives from subsequent parties settlement for  an item, which settlement is or becomes final and the bank suspends  payments without making a settlement for the item with its customer which  settlement is or becomes final, the owner of the item has a preferred claim  against the collecting bank.    (Source: P.A. 87-582; 87-1135.)
810 ILCS 5/Art. 4 Pt. 3 heading
2021 Illinois Compiled Statutes|Chapter 810 - COMMERCIAL CODE|810 ILCS 5/ - Uniform Commercial Code.|Article 4 - Bank Deposits And Collections

 PART 3.      COLLECTION OF ITEMS: PAYOR BANKS