There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 4 Bank Deposits and Collections
355.4.205 Depositary bank holder of unindorsed item.
Download pdf(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 KRS 355.3-302, it is 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. Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 87, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 4-205, effective July 1, 1960.
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