Skip to content
Georgia Commons
Menu

Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 4. · Article 4. BANK DEPOSITS AND COLLECTIONS · Part 2. COLLECTION OF ITEMS: DEPOSITARY AND COLLECTING BANKS

11-4-209. Encoding and retention warranties.

Active

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

  1. (a)

    A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty.#

  2. (b)

    A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement. If a customer of a depositary bank undertakes to retain an item, that bank also makes this warranty.#

  3. (c)

    A person to whom warranties are made under this Code section and who took the item in good faith may recover from the warrantor as damages for breach of warranty an amount equal to the loss suffered as a result of the breach, plus expenses and loss of interest incurred as a result of the breach.#

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.

History

Code 1981, § 11-4-209, enacted by Ga. L. 1996, p. 1306, § 8.

Editor's notes

Ga. L. 1996, p. 1306, § 9, effective July 1, 1996, renumbered former Code Section 11-4-209 as present Code Section 11-4-211 and Ga. L. 1996, p. 1306, § 8 added this Code section.

Read the official page (the state's PDF, opened at the page this text was read from).

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, pages 504 to 505; merge action: carried; file SHA-256 ad397fccbf21.