reglab/statecodes huggingface dataset:
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 4 - Liability of Parties › Section 34.1-3-420 - Conversion of Instrument.

34.1-3-420. Conversion of instrument.
(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other than a negotiation, from a person not entitled to enforce the instrument or a bank makes or obtains payment with respect to the instrument for a person not entitled to enforce the instrument or receive payment. An action for conversion of an instrument may not be brought by (1) the issuer or acceptor of the instrument or (2) a payee or indorsee who did not receive delivery of the instrument either directly or through delivery to an agent or a co-payee.
(b) In an action under subsection (a), the measure of liability is presumed to be the amount payable on the instrument, but recovery may not exceed the amount of the plaintiff's interest in the instrument.
(c) A representative, other than a depositary bank, who has in good faith dealt with an instrument or its proceeds on behalf of one who was not the person entitled to enforce the instrument is not liable in conversion to that person beyond the amount of any proceeds that it has not paid out.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 5 - Dishonor › Section 34.1-3-501 - Presentment.

34.1-3-501. Presentment.
(a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (1) to pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank, or (2) to accept a draft made to the drawee.
(b) The following rules are subject to article 4, agreement of the parties, and clearing-house rules and the like:
(i) Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States; may be made by any commercially reasonable means, including an oral, written, or electronic communication; is effective when the demand for payment or acceptance is received by the person to whom presentment is made; and is effective if made to any one (1) of two (2) or more makers, acceptors, drawees, or other payors;
(ii) Upon demand of the person to whom presentment is made, the person making presentment must (1) exhibit the instrument, (2) give reasonable identification and, if presentment is made on behalf of another person, reasonable evidence of authority to do so, and (3) sign a receipt on the instrument for any payment made or surrender the instrument if full payment is made;
(iii) Without dishonoring the instrument, the party to whom presentment is made may (1) return the instrument for lack of a necessary indorsement, or (2) refuse payment or acceptance for failure of the presentment to comply with the terms of the instrument, an agreement of the parties, or other applicable law or rule;
(iv) The party to whom presentment is made may treat presentment as occurring on the next business day after the day of presentment if the party to whom presentment is made has established a cut-off hour not earlier than 2:00 p.m. for the receipt and processing of instruments presented for payment or acceptance and presentment is made after the cut-off hour.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 5 - Dishonor › Section 34.1-3-503 - Notice of Dishonor.

34.1-3-503. Notice of dishonor.
(a) The obligation of an indorser stated in section 34.1-3-415(a) and the obligation of a drawer stated in section 34.1-3-414(d) may not be enforced unless (1) the indorser or drawer is given notice of dishonor of the instrument complying with this section or (2) notice of dishonor is excused under section 34.1-3-504(b).
(b) Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. Return of an instrument given to a bank for collection is sufficient notice of dishonor.
(c) Subject to section 34.1-3-504(c), with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given (1) by the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument, or (2) by any other person within thirty (30) days following the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given within thirty (30) days following the day on which dishonor occurs.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 5 - Dishonor › Section 34.1-3-504 - Excused Presentment and Notice of Dishonor.

34.1-3-504. Excused presentment and notice of dishonor.
(a) Presentment for payment or acceptance of an instrument is excused if (1) the person entitled to present the instrument cannot with reasonable diligence make presentment, (2) the maker or acceptor has repudiated an obligation to pay the instrument or is dead or in insolvency proceedings, (3) by the terms of the instrument presentment is not necessary to enforce the obligation of indorsers or the drawer, (4) the drawer or indorser whose obligation is being enforced has waived presentment or otherwise has no reason to expect or right to require that the instrument be paid or accepted, or (5) the drawer instructed the drawee not to pay or accept the draft or the drawee was not obligated to the drawer to pay the draft.
(b) Notice of dishonor is excused if (1) by the terms of the instrument notice of dishonor is not necessary to enforce the obligation of a party to pay the instrument, or (2) the party whose obligation is being enforced waived notice of dishonor. A waiver of presentment is also a waiver of notice of dishonor.
(c) Delay in giving notice of dishonor is excused if the delay was caused by circumstances beyond the control of the person giving the notice and the person giving the notice exercised reasonable diligence after the cause of the delay ceased to operate.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 5 - Dishonor › Section 34.1-3-505 - Evidence of Dishonor.

34.1-3-505. Evidence of dishonor.
(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated:
(i) A document regular in form as provided in subsection (b) which purports to be a protest;
(ii) A purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor;
(iii) A book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry.
(b) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notarial officer or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 6 - Discharge and Payment › Section 34.1-3-601 - Discharge and Effect of Discharge.

34.1-3-601. Discharge and effect of discharge.
(a) The obligation of a party to pay the instrument is discharged as stated in this article or by an act or agreement with the party which would discharge an obligation to pay money under a simple contract.
(b) Discharge of the obligation of a party is not effective against a person acquiring rights of a holder in due course of the instrument without notice of the discharge.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 6 - Discharge and Payment › Section 34.1-3-602 - Payment.

34.1-3-602. Payment.
(a) Subject to subsection (b), an instrument is paid to the extent payment is made (1) by or on behalf of a party obliged to pay the instrument, and (2) to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under section 34.1-3-306 by another person.
(b) The obligation of a party to pay the instrument is not discharged under subsection (a) if:
(i) A claim to the instrument under section 34.1-3-306 is enforceable against the party receiving payment and (1) payment is made with knowledge by the payor that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or (2) in the case of an instrument other than a cashier's check, teller's check, or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument; or
(ii) The person making payment knows that the instrument is a stolen instrument and pays a person it knows is in wrongful possession of the instrument.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 6 - Discharge and Payment › Section 34.1-3-603 - Tender of Payment.

34.1-3-603. Tender of payment.
(a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.
(b) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.
(c) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 6 - Discharge and Payment › Section 34.1-3-604 - Discharge by Cancellation or Renunciation.

34.1-3-604. Discharge by cancellation or renunciation.
(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (1) by an intentional voluntary act, such as surrender of the instrument to the party, destruction, mutilation, or cancellation of the instrument, cancellation or striking out of the party's signature, or the addition of words to the instrument indicating discharge, or (2) by agreeing not to sue or otherwise renouncing rights against the party by a signed writing.
(b) Cancellation or striking out of an indorsement pursuant to subsection (a) does not affect the status and rights of a party derived from the indorsement.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 9 - Registered Clearing Corporations › Section 34.1-3-901 - Deposited Instrument.

34.1-3-901. Deposited instrument.
(a) For purposes of this Part 9 a "deposited instrument" is an instrument which is:
(i) In the custody of a registered clearing corporation, another clearing corporation, a foreign clearing corporation, a custodian bank, a foreign custodian bank or a nominee of any of them subject to the instructions of the registered clearing corporation;
(ii) Payable to bearer or indorsed in blank by an appropriate person or is payable to the order of the registered clearing corporation, another clearing corporation, a foreign clearing corporation, a custodian bank, a foreign custodian bank or a nominee of any of them subject to the instructions of the registered clearing corporation; and
(iii) Shown on the books of the registered clearing corporation in the account of a party having a contractual relationship with the registered clearing corporation as a user or participant.
(b) For purposes of this Part 9 the registered clearing corporation "having control of a deposited instrument" is the registered clearing corporation on whose books it is shown as provided in subsection (a)(iii) of this section.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 9 - Registered Clearing Corporations › Section 34.1-3-902 - Variation of Commercial Paper Provisions by Agreement.

34.1-3-902. Variation of commercial paper provisions by agreement.
(a) The effect of the provisions of this article on parties who are users or participants having a contractual relationship with a registered clearing corporation may be varied by agreement with respect to the transfer, pledge, presentment, dishonor and payment of instruments or other activity covered by this article carried out through such registered clearing corporation if such relates to instruments which are deposited instruments in such registered clearing corporation.
(b) The rules, regulations, operating procedures and the like adopted or promulgated by a registered clearing corporation from time to time shall have the effect of agreements under subsection (a) of this section whether or not specifically assented to by all parties interested in the instruments handled.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 9 - Registered Clearing Corporations › Section 34.1-3-903 - Transfer or Pledge Within a Central Depository System.

34.1-3-903. Transfer or pledge within a central depository system.
(a) In addition to other methods, a transfer, pledge or release of a deposited instrument or any interest therein may be effected by the making of appropriate entries on the books of the registered clearing corporation having control of the deposited instrument reducing the account of the transferor, pledgor or pledgee and increasing the account of the transferee, pledgee or pledgor by the amount of the obligation or the instrument transferred, pledged or released in accordance with the rules, regulations, operating procedures and the like adopted or promulgated by the registered clearing corporation from time to time.
(b) Under this section entries may be with respect to like instruments or interests therein as part of a fungible bulk and may refer merely to a quantity of a particular instrument without reference to the name of the payee, number or the like and, in appropriate cases, may be on a net basis taking into account other transfers, pledges or releases of the same instrument.
(c) Except to the extent varied by section 34.1-3-905, or the rules, regulations, operating procedures and the like adopted or promulgated by a registered clearing corporation from time to time, or the contractual relations with such clearing corporation, a transfer, pledge or release under this section has the effect of a delivery of an instrument in bearer form or duly indorsed in blank representing the amount of the obligation or instrument being transferred, pledged or released. If a pledge or the creation of a security interest is intended, the making of entries has the effect of a taking of possession of the instrument by the pledgee or a secured party.
(d) That entries made on the books of the registered clearing corporation as provided in subsection (a) of this section are not appropriate, does not affect the validity or effect of the entries nor the liabilities or obligations of the registered clearing corporation to any person adversely affected thereby.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 9 - Registered Clearing Corporations › Section 34.1-3-904 - Presentment, Dishonor, Payment, or Other Activities Within a Central Depository System.

34.1-3-904. Presentment, dishonor, payment, or other activities within a central depository system.
(a) If both parties for whom or with respect to which a deposited instrument is to be presented, dishonored, paid or otherwise acted upon or with respect to in a manner covered by this article are users or participants having a contractual relationship with the registered clearing corporation having control of the deposited instrument, then, in addition to other methods, presentment, dishonor, or payment of or other activity covered by this article with respect to a deposited instrument or any interest therein may be effected by the making of appropriate entries on the books of the registered clearing corporation having control of the deposited instrument in accordance with the rules, regulations, operating procedures and the like adopted or promulgated by the registered clearing corporation from time to time.
(b) Under this section entries may be with respect to like instruments or interests therein as part of a fungible bulk and may refer merely to a quantity of a particular instrument without reference to the name of the payee, number or the like and, in appropriate cases, may be on a net basis taking into account other presentments, dishonors, or payments of, or other activities with respect to the same instrument.
(c) That entries on the books of the registered clearing corporation as provided in subsection (a) of this section are not appropriate does not affect the validity or effect of the entries or the liabilities or obligations of the registered clearing corporation to any person adversely affected thereby.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 3 - Negotiable Instruments › Part 9 - Registered Clearing Corporations › Section 34.1-3-905 - Clearing Corporation Entitled to Holder in Due Course Status.

34.1-3-905. Clearing corporation entitled to holder in due course status.
(a) A registered clearing corporation can be a holder in due course with respect to a deposited instrument.
(b) The initial entry of an instrument which otherwise meets the requirements of a deposited instrument by a registered clearing corporation on its books for the account of a user or participant having a contractual relationship with the registered clearing corporation shall make the registered clearing corporation a holder under this article which has taken the instrument for value.
(c) Any notice or knowledge of a user or participant having a contractual relationship with a registered clearing corporation shall not be attributed to the registered clearing corporation for purposes of determining the clearing corporation's status as a holder in due course under this article.
(d) Any entries on the books of the registered clearing corporation with respect to a deposited instrument shall not affect its status as a holder or a holder in due course of an instrument.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-102 - Applicability.

34.1-4-102. Applicability.
(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 laws 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-103 - Variation by Agreement; Measure of Damages; Action Constituting Ordinary Care.

34.1-4-103. Variation by agreement; measure of damages; action constituting ordinary care.
(a) The effect of the provisions of this article may be varied by agreement, but the parties to the agreement cannot disclaim the responsibility of a bank, or a registered clearing corporation with respect to a user or participant with whom the registered clearing corporation has a contractual relationship, 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 or registered clearing corporation's responsibility is to be measured if those standards are not manifestly unreasonable.
(b) Federal reserve regulations and operating circulars, or registered clearing corporation rules, regulations, operating procedures and the like adopted and promulgated by a registered clearing corporation from time to time, clearing-house rules, and the like have the effect of agreements under subsection (a) of this section, 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, or registered clearing corporation rules, regulations, operating procedures and the like adopted or promulgated by a registered clearing corporation from time to time, is the exercise of ordinary care and, in the absence of special instructions, action or nonaction consistent with clearing-house 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 of [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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-105 - "Bank"; "Depositary Bank"; "Intermediary Bank"; "Collecting Bank"; "Payor Bank"; "Presenting Bank".

34.1-4-105. "Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank".
(a) In this article:
(i) "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company;
(ii) "Depositary bank" means 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;
(iii) "Payor bank" means a bank that is the drawee of a draft;
(iv) "Intermediary bank" means a bank to which an item is transferred in course of collection except the depositary or payor bank;
(v) "Collecting bank" means a bank handling an item for collection except the payor bank;
(vi) "Presenting bank" means a bank presenting an item except a payor bank.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-106 - Payable Through or Payable at Bank; Collecting Bank.

34.1-4-106. Payable through or payable at bank; collecting bank.
(a) If an item states that it is "payable through" a bank identified in the item, (1) the item designates the bank as a collecting bank and does not by itself authorize the bank to pay the item, and (2) 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-107 - Separate Office of Bank.

34.1-4-107. Separate office of bank.
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 notices or orders must be given under this article and under article 3.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-108 - Time of Receipt of Items.

34.1-4-108. Time of receipt of items.
(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 2:00 p.m. or later as a cutoff 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 cutoff 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-109 - Delays.

34.1-4-109. Delays.
(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 act for a period not exceeding two (2) 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 act or by instructions is excused if (1) 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 (2) the bank exercises such diligence as the circumstances require.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-110 - Electronic Presentment.

34.1-4-110. 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 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 1 - General Provisions and Definitions › Section 34.1-4-111 - Statute of Limitations.

34.1-4-111. Statute of limitations.
An action to enforce an obligation, duty, or right arising under this article must be commenced within three (3) years after the cause of action accrues.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-201 - Status of Collecting Bank as Agent and Provisional Status of Credits; Applicability of Article; Item Indorsed "Pay Any Bank".

34.1-4-201. 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 subagent 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 purposes 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:
(i) Returned to the customer initiating collection; or
(ii) Specially indorsed by a bank to a person who is not a bank.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-202 - Responsibility for Collection or Return; When Action Timely.

34.1-4-202. Responsibility for collection or return; when action timely.
(a) A collecting bank must exercise ordinary care in:
(i) Presenting an item or sending it for presentment;
(ii) 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;
(iii) Settling for an item when the bank receives final settlement; and
(iv) 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)(i), 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-203 - Effect of Instructions.

34.1-4-203. Effect of instructions.
Subject to article 3 concerning conversion of instruments (section 34.1-3-420) and restrictive indorsements (section 34.1-3-206), only a collecting bank's transferor can give instructions that 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-204 - Methods of Sending and Presenting; Sending Directly to Payor Bank.

34.1-4-204. 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:
(i) An item directly to the payor bank;
(ii) An item to a nonbank payor if authorized by its transferor; and
(iii) 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-205 - Depositary Bank Holder of Unindorsed Item.

34.1-4-205. Depositary bank holder of unindorsed item.
(a) If a customer delivers an item to a depositary bank for collection:
(i) 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 34.1-3-302, it is a holder in due course; and
(ii) 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-207 - Transfer Warranties.

34.1-4-207. 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:
(i) The warrantor is a person entitled to enforce the item;
(ii) All signatures on the item are authentic and authorized;
(iii) The item has not been altered;
(iv) The item is not subject to a defense or claim in recoupment (section 34.1-3-305(a)) of any party that can be asserted against the warrantor; and
(v) 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 (1) according to the terms of the item at the time it was transferred, or (2) if the transfer was of an incomplete item, according to its terms when completed as stated in sections 34.1-3-115 and 34.1-3-407. 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 thirty (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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-209 - Encoding and Retention Warranties.

34.1-4-209. Encoding and retention warranties.
(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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-210 - Security Interest of Collecting Bank in Items Accompanying Documents and Proceeds.

34.1-4-210. 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:
(i) In case of an item deposited in an account, to the extent to which credit given for the item has been withdrawn or applied;
(ii) In case of an item for which it has been 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
(iii) If it makes an advance on or against the item.
(b) If credit given for several items received at one (1) 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:
(i) No security agreement is necessary to make the security interest enforceable (section 34.1-9-203);
(ii) No filing is required to perfect the security interest; and
(iii) The security interest has priority over conflicting perfected security interests in the item, accompanying documents, or proceeds.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-211 - When Bank Gives Value for Purposes of Holder in Due Course.

34.1-4-211. 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 34.1-3-302 on what constitutes a holder in due course.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-212 - Presentment by Notice of Item Not Payable By, Through, or at a Bank; Liability of Drawer or Indorser.

34.1-4-212. Presentment by notice of item not payable by, through, or at a 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 bank must meet any requirement of the party to accept or pay under section 34.1-3-501 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 34.1-3-501 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-213 - Medium and Time of Settlement by Bank.

34.1-4-213. 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:
(i) 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
(ii) The time of settlement, is:
(A) 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;
(B) With respect to tender of settlement by credit in an account in a Federal Reserve Bank, when the credit is made;
(C) 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
(D) With respect to tender of settlement by a funds transfer, when payment is made pursuant to section 34.1-4.A-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:
(i) Presents or forwards the check for collection, settlement is final when the check is finally paid; or
(ii) 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.
2023 Wyoming Statutes › Title 34.1 - Uniform Commercial Code › Article 4 - Bank Deposits and Collections › Part 2 - Collection of Items: Depositary and Collecting Banks › Section 34.1-4-214 - Right of Charge-Back or Refund; Liability of Collecting Bank; Return of Item.

34.1-4-214. 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 a 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 it 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 34.1-4-301).
(d) The right to charge-back is not affected by:
(i) Previous use of a credit given for the item; or
(ii) 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.