N.Y. U.C.C. Law § 4-109

Current through 2024 NY Law Chapter 553

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.

N.Y. U.c.c. Law § 4-109