- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 205. Depositary Bank Holder of Unendorsed Item.
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. Methods of Sending and Presenting; Sending Directly to Payor Bank.
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. Transfer Between Banks.
AS 45.04.205. Depositary Bank Holder of Unendorsed Item.
If a customer delivers an item to a depositary bank for collection
- (1) the depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at
the time of delivery was a holder of the item, whether or not the customer endorses the item, and, if the bank
satisfies the other requirements of AS 45.03.302, it
is a holder in due course; and
- (2) the depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the
item was paid to the customer or deposited to the customer's account.
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