Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 3. · Article 3. NEGOTIABLE INSTRUMENTS · Part 4. LIABILITY OF PARTIES

11-3-408. Drawee not liable on unaccepted draft.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

Code 1981, § 11-3-408, enacted by Ga. L. 1996, p. 1306, § 3.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 431; merge action: carried; file SHA-256 ad397fccbf21.