---
title: O.C.G.A. § 11-4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
collection: code
id: 11-4-301
cite_as: O.C.G.A. § 11-4-301 (2025)
canonical_url: https://georgiacommons.org/code/11-4-301
md_url: https://georgiacommons.org/code/11-4-301.md
text_url: https://georgiacommons.org/code/11-4-301/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t11-(v9)-pdf.pdf?sfvrsn=df925151_0#page=43
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: "COMMERCIAL CODE / BANK DEPOSITS AND COLLECTIONS / COLLECTION OF ITEMS: PAYOR BANKS"
---

# O.C.G.A. § 11-4-301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.

(a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it:

(1) Returns the item; or

(2) Sends a record providing notice of dishonor or nonpayment if the item is unavailable for return.

(b) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke any credit given or recover the amount thereof withdrawn by its customer, if it acts within the time limit and in the manner specified in subsection (a) of this Code section.

(c) Unless previous notice of dishonor has been sent, an item is dishonored at the time when for purposes of dishonor it is returned or notice sent in accordance with this Code section.

(d) An item is returned:

(1) As to an item presented through a clearing-house, when it is delivered to the presenting or last collecting bank or to the clearing-house or is sent or delivered in accordance with clearing-house rules; or

(2) In all other cases, when it is sent or delivered to the bank’s customer or transferor or pursuant to instructions.

## History

Code 1933, § 109A-4-301, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 1996, p. 1306, § 12; Ga. L. 2024, p. 817, § 5-23/HB 1240, effective July 1, 2024.

## Editor's Notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’”

Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

## Amendments

The 2024 amendment, effective July 1, 2024, substituted “a record providing” for “written” near the beginning of paragraph (a)(2).