2006 New Mexico Statutes - Article 4 — Bank Deposits and Collections, 55-4-101 through 55-4-504.
Part 1. GENERAL PROVISIONS AND DEFINITIONS
- 55-4-101 — Short title.
- 55-4-102 — Applicability.
- 55-4-103 — Variation by agreement; measure of damages; action constituting ordinary care.
- 55-4-104 — Definitions and index of definitions.
- 55-4-105 — "Bank"; "depositary bank"; "intermediary bank"; "collecting bank"; "payor bank"; "presenting bank".
- 55-4-106 — Payable through or payable at bank; collecting bank.
- 55-4-107 — Separate office of a bank.
- 55-4-108 — Time of receipt of items.
- 55-4-109 — Delays.
- 55-4-110 — Electronic presentment.
- 55-4-111 — Statute of limitations.
Part 2. COLLECTION OF ITEMS - DEPOSITARY AND COLLECTING BANKS
- 55-4-201 — Status of collecting banks as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".
- 55-4-202 — Responsibility for collection or return; when action timely.
- 55-4-203 — Effect of instructions.
- 55-4-204 — Methods of sending and presenting; sending directly to payor bank.
- 55-4-205 — Depositary bank holder of unindorsed item.
- 55-4-206 — Transfer between banks.
- 55-4-207 — Transfer warranties.
- 55-4-208 — Presentment warranties.
- 55-4-209 — Encoding and retention warranties.
- 55-4-210 — Security interest of collecting bank in items, accompanying documents and proceeds.
- 55-4-211 — When bank gives value for purposes of holder in due course.
- 55-4-212 — Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser.
- 55-4-213 — Medium and time of settlement by bank.
- 55-4-214 — Right of charge-back or refund; liability of collecting bank; return of item.
- 55-4-215 — Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
- 55-4-216 — Insolvency and preference.
Part 3. COLLECTION OF ITEMS - PAYOR BANKS
- 55-4-301 — Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
- 55-4-302 — Payor bank's responsibility for late return of item.
- 55-4-303 — When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified.
Part 4. RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER
- 55-4-401 — When bank may charge customer's account.
- 55-4-402 — Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
- 55-4-403 — Customer's right to stop payment; burden of proof of loss.
- 55-4-404 — Bank not obliged to pay check more than six months old.
- 55-4-405 — Death or incompetence of customer.
- 55-4-406 — Customer's duty to discover and report unauthorized signature or alteration.
- 55-4-407 — Payor bank's right to subrogation on improper payment.
Part 5. COLLECTION OF DOCUMENTARY DRAFTS
- 55-4-501 — Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
- 55-4-502 — Presentment of "on arrival" drafts.
- 55-4-503 — Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
- 55-4-504 — Privilege of presenting bank to deal with goods; security interest for expenses.
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