There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 4 Bank Deposits and Collections
355.4.209 Encoding and retention warranties.
Download pdfinformation is correctly encoded. If the customer of a depositary bank encodes, that
bank also makes the warranty. (2) 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. (3) 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. Effective: January 1, 1997
History: Created 1996 Ky. Acts ch. 130, sec. 91, effective January 1, 1997.
History for former KRS 355.4-209: Repealed, reenacted, renumbered, as KRS 355.4- 211, and amended, 1996 Ky. Acts ch. 130, sec. 93, effective January 1, 1997. --
Created 1958 Ky. Acts ch. 77, sec. 4-209, effective July 1, 1960.
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