SB 279 – Adds demand drafts to certain transfer and presentment warranties in the Uniform Commercial Code

• Sponsor: Taylor
• LR Number: 1228S.01T
• Committee: Judiciary and Civil & Criminal Jurisprudence
• Last Action: 7/12/2005 - Signed by Governor
• Effective Date: August 28, 2005
• House Handler: Wasson

Current Bill Summary

SB 279 – This act modifies provisions of the Uniform Commercial Code relating to negotiable instruments and bank deposits and collections. Transfer warranties and presentment warranties for negotiable instruments and bank deposits and collections will apply to demand drafts. The person submitting the demand draft warrants that creation of the demand draft was authorized by the person identified as the maker of the check.

JIM ERTLE