There is a newer version
of
the New York Laws
2017 New York Laws
UCC - Uniform Commercial Code
Article 4 - Bank Deposits and Collections
Part 1 - General Provisions and Definitions
4-109 - Process of Posting.
Universal Citation: NY UCC § 4-109 (2017)
Section 4--109. Process of Posting.The "process of posting" means the usual procedure followed by a payor bank in determining to pay an item and in recording the payment including one or more of the following or other steps as determined by the bank:
(a) verification of any signature;
(b) ascertaining that sufficient funds are available;
(c) affixing a "paid" or other stamp;
(d) entering a charge or entry to a customer's account;
(e) correcting or reversing an entry or erroneous action with respect to the item.
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