The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

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F.S. 674.201

674.201 Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed “pay any bank.”—

(1) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of indorsement or lack of indorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank, such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection, or return, the relevant provisions of this chapter apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.

(2) After an item has been indorsed with the words “pay any bank” or the like, only a bank may acquire the rights of a holder until the item has been:

(a) Returned to the customer initiating collection; or

(b) Specially indorsed by a bank to a person who is not a bank.

History.—s. 1, ch. 65-254; s. 19, ch. 92-82.

Note.—s. 4-201, U.C.C.

F.S. 674.201 on Google Scholar

F.S. 674.201 on Casetext

Amendments to 674.201

Arrestable Offenses / Crimes under Fla. Stat. 674.201

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 674.201.

Annotations, Discussions, Cases:

Cases from cite.case.law:

SCADIF, S. A. a v. FIRST UNION NATIONAL, a, 344 F.3d 1123 (11th Cir. 2003)

. . . Stat. ch. 674.201(1). . . .

SCADIF, S. A. a v. FIRST UNION NATIONAL BANK, a, 208 F. Supp. 2d 1352 (S.D. Fla. 2002)

. . . Florida Statutes section 674.201(1) provides that a collecting bank for an item is an agent of the owner . . .

In BOOGAART OF FLORIDA, INC., 23 B.R. 157 (Bankr. S.D. Fla. 1982)

. . . Florida Statutes §§ 674.201, 674.212 and 674.401 (1981). . . .

JACKSON VITRIFIED CHINA COMPANY, v. PEOPLE S AMERICAN NATIONAL BANK OF NORTH MIAMI, 388 So. 2d 1059 (Fla. Dist. Ct. App. 1980)

. . . . § 674.201, Fla.Stat. (1975), § 4-201 (1962). . . . Comment 4 to § 674.201, § 4-201. . . . liability,” especially where based upon a transmogrification specifically disavowed by Comment 1 to § 674.201 . . .