2009 New Mexico Statutes
Chapter 55 - Uniform Commercial Code.
Article 4 - Bank Deposits and Collections

Part 1 - GENERAL PROVISIONS AND DEFINITIONS

• Section 55-4-101 - Short title.
• Section 55-4-102 - Applicability.
• Section 55-4-103 - Variation by agreement; measure of damages; action constituting ordinary care.
• Section 55-4-104 - Definitions and index of definitions.
• Section 55-4-105 - Definitions of types of banks.
• Section 55-4-106 - Payable through or payable at bank; collecting bank.
• Section 55-4-107 - Separate office of a bank.
• Section 55-4-108 - Time of receipt of items.
• Section 55-4-109 - Delays.
• Section 55-4-110 - Electronic presentment.
• Section 55-4-111 - Statute of limitations.

Part 2 - COLLECTION OF ITEMS - DEPOSITARY AND COLLECTING BANKS

• Section 55-4-201 - Status of collecting banks as agent and provisional status of credits; applicability of article; item indorsed "pay any bank".
• Section 55-4-202 - Responsibility for collection or return; when action timely.
• Section 55-4-203 - Effect of instructions.
• Section 55-4-204 - Methods of sending and presenting; sending directly to payor bank.
• Section 55-4-205 - Depositary bank holder of unindorsed item.
• Section 55-4-206 - Transfer between banks.
• Section 55-4-207 - Transfer warranties.
• Section 55-4-208 - Presentment warranties.
• Section 55-4-209 - Encoding and retention warranties.
• Section 55-4-210 - Security interest of collecting bank in items, accompanying documents and proceeds.
• Section 55-4-211 - When bank gives value for purposes of holder in due course.
• Section 55-4-212 - Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser.
• Section 55-4-213 - Medium and time of settlement by bank.
• Section 55-4-214 - Right of charge-back or refund; liability of collecting bank; return of item.
• Section 55-4-215 - Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
• Section 55-4-216 - Insolvency and preference.

Part 3 - COLLECTION OF ITEMS - PAYOR BANKS

• Section 55-4-301 - Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
• Section 55-4-302 - Payor bank's responsibility for late return of item.
• Section 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

• Section 55-4-401 - When bank may charge customer's account.
• Section 55-4-402 - Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
• Section 55-4-403 - Customer's right to stop payment; burden of proof of loss.
• Section 55-4-404 - Bank not obliged to pay check more than six months old.
• Section 55-4-405 - Death or incompetence of customer.
• Section 55-4-406 - Customer's duty to discover and report unauthorized signature or alteration.
• Section 55-4-407 - Payor bank's right to subrogation on improper payment.

Part 5 - COLLECTION OF DOCUMENTARY DRAFTS

• Section 55-4-501 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
• Section 55-4-502 - Presentment of "on arrival" drafts.
• Section 55-4-503 - Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
• Section 55-4-504 - Privilege of presenting bank to deal with goods; security interest for expenses.