{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.4-201.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.4-201.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.4-201.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.4-201.html"}],"law_id":61258,"edition_id":1,"section_id":61258,"structure_id":14847,"section_number":"8.4-201","catch_line":"Status of collecting bank as agent and provisional status of credits; applicability of title; item endorsed “pay any bank.”","history":"1964, c. 219; 1992, c. 693.","full_text":"a\n\nUnless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of endorsement or lack of endorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection or return, the relevant provisions of this title apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.b\n\nAfter an item has been endorsed with the words “pay any bank” or the like, only a bank may acquire the rights of a holder until the item has been:1\n\nreturned to the customer initiating collection; or2\n\nspecially endorsed by a bank to a person who is not a bank.","order_by":null,"text":{"0":{"id":223866,"text":"Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement given for the item is provisional. This provision applies regardless of the form of endorsement or lack of endorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks for purposes of presentment, payment, collection or return, the relevant provisions of this title apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"b"},"1":{"id":223867,"text":"After an item has been endorsed with the words “pay any bank” or the like, only a bank may acquire the rights of a holder until the item has been:","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a","next_prefix":"b1"},"2":{"id":223868,"text":"returned to the customer initiating collection; or","type":"section","prefixes":["b","1"],"prefix":"1","entire_prefix":"b1","prefix_anchor":"b1","level":2,"prior_prefix":"b","next_prefix":"b2"},"3":{"id":223869,"text":"specially endorsed by a bank to a person who is not a bank.","type":"section","prefixes":["b","2"],"prefix":"2","entire_prefix":"b2","prefix_anchor":"b2","level":2,"prior_prefix":"b1"}},"ancestry":[{"id":14847,"edition_id":1,"name":"Collection of Items: Depositary and Collecting Banks","identifier":"2","label":"part","depth":2,"order_by":1,"parent_id":12768,"metadata":{},"date_created":"2026-06-26 03:50:22","date_modified":"2026-06-26 03:50:22","permalink":{"id":283047,"object_type":"structure","relational_id":14847,"identifier":"2","token":"8.4\/2","url":"\/8.4\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12768,"edition_id":1,"name":"Commercial Code \u2014 Bank Deposits and Collections","identifier":"8.4","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:52","date_modified":"2026-06-26 03:43:52","permalink":{"id":282995,"object_type":"structure","relational_id":12768,"identifier":"8.4","token":"8.4","url":"\/8.4\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":61258,"structure_id":14847,"section_number":"8.4-201","catch_line":"Status of collecting bank as agent and provisional status of credits; applicability of title; item endorsed \"pay any bank.\"","url":"\/8.4-201\/","token":"8.4\/2\/8.4-201","metadata":false},{"id":70013,"structure_id":14847,"section_number":"8.4-202","catch_line":"Responsibility for collection or return; when action timely","url":"\/8.4-202\/","token":"8.4\/2\/8.4-202","metadata":false},{"id":81502,"structure_id":14847,"section_number":"8.4-203","catch_line":"Effect of instructions","url":"\/8.4-203\/","token":"8.4\/2\/8.4-203","metadata":false},{"id":58958,"structure_id":14847,"section_number":"8.4-204","catch_line":"Methods of sending and presenting; sending directly to payor bank","url":"\/8.4-204\/","token":"8.4\/2\/8.4-204","metadata":false},{"id":67407,"structure_id":14847,"section_number":"8.4-205","catch_line":"Repealed","url":"\/8.4-205\/","token":"8.4\/2\/8.4-205","metadata":false},{"id":85489,"structure_id":14847,"section_number":"8.4-205.1","catch_line":"Depositary bank holder of unendorsed item","url":"\/8.4-205.1\/","token":"8.4\/2\/8.4-205.1","metadata":false},{"id":78749,"structure_id":14847,"section_number":"8.4-206","catch_line":"Transfer between banks","url":"\/8.4-206\/","token":"8.4\/2\/8.4-206","metadata":false},{"id":69127,"structure_id":14847,"section_number":"8.4-207","catch_line":"Repealed","url":"\/8.4-207\/","token":"8.4\/2\/8.4-207","metadata":false},{"id":56757,"structure_id":14847,"section_number":"8.4-207.1","catch_line":"Transfer warranties","url":"\/8.4-207.1\/","token":"8.4\/2\/8.4-207.1","metadata":false},{"id":80890,"structure_id":14847,"section_number":"8.4-207.2","catch_line":"Presentment warranties","url":"\/8.4-207.2\/","token":"8.4\/2\/8.4-207.2","metadata":false},{"id":58319,"structure_id":14847,"section_number":"8.4-207.3","catch_line":"Encoding and retention warranties","url":"\/8.4-207.3\/","token":"8.4\/2\/8.4-207.3","metadata":false},{"id":83512,"structure_id":14847,"section_number":"8.4-208","catch_line":"Security interest of collecting bank in items, accompanying documents and proceeds","url":"\/8.4-208\/","token":"8.4\/2\/8.4-208","metadata":false},{"id":69286,"structure_id":14847,"section_number":"8.4-209","catch_line":"When bank gives value for purposes of holder in due course","url":"\/8.4-209\/","token":"8.4\/2\/8.4-209","metadata":false},{"id":64339,"structure_id":14847,"section_number":"8.4-210","catch_line":"Presentment by notice of item not payable by, through or at a bank; liability of drawer or endorser","url":"\/8.4-210\/","token":"8.4\/2\/8.4-210","metadata":false},{"id":71107,"structure_id":14847,"section_number":"8.4-211","catch_line":"Repealed","url":"\/8.4-211\/","token":"8.4\/2\/8.4-211","metadata":false},{"id":74613,"structure_id":14847,"section_number":"8.4-211.1","catch_line":"Medium and time of settlement by bank","url":"\/8.4-211.1\/","token":"8.4\/2\/8.4-211.1","metadata":false},{"id":71273,"structure_id":14847,"section_number":"8.4-212","catch_line":"Right of charge-back or refund; liability of collecting banks; return of item","url":"\/8.4-212\/","token":"8.4\/2\/8.4-212","metadata":false},{"id":63165,"structure_id":14847,"section_number":"8.4-213","catch_line":"Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal","url":"\/8.4-213\/","token":"8.4\/2\/8.4-213","metadata":false},{"id":83511,"structure_id":14847,"section_number":"8.4-214","catch_line":"Insolvency and preference","url":"\/8.4-214\/","token":"8.4\/2\/8.4-214","metadata":false}],"next_section":{"id":70013,"structure_id":14847,"section_number":"8.4-202","catch_line":"Responsibility for collection or return; when action timely","url":"\/8.4-202\/","token":"8.4\/2\/8.4-202","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4-201\/","history_text":"

This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1992, chapter 693.<\/p>","references":[{"id":65468,"section_number":"8.3A-206","catch_line":"Restrictive endorsement","order_by":null,"url":"\/8.3A-206\/"}],"refers_to":false,"permalink":{"id":283049,"object_type":"law","relational_id":61258,"identifier":"8.4-201","token":"8.4\/2\/8.4-201","url":"\/8.4-201\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.4-201\/","token":"8.4\/2\/8.4-201","dublin_core":{"Title":"Status of collecting bank as agent and provisional status of credits; applicability of title; item endorsed “pay any bank.”","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4-201","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> Unless a contrary intent<\/span> clearly appears and before the time that a settlement<\/span> given by a collecting bank<\/span> for an item is or becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and any settlement<\/span> given for the item is provisional. This provision applies regardless of the form of endorsement or lack of endorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact<\/span> withdrawn; but the continuance<\/span> of ownership of an item by its owner and any rights of the owner to proceeds of the item are subject to rights of a collecting bank<\/span> such as those resulting from outstanding advances on the item and rights of recoupment or setoff. If an item is handled by banks<\/span> for purposes of presentment<\/span>, payment, collection or return, the relevant provisions of this title apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> After an item has been endorsed with the words “pay any bank” or the like, only a bank may acquire the rights of a holder until the item has been: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> returned to the customer initiating collection; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> specially endorsed by a bank to a person who is not a bank. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nSTATUS OF COLLECTING BANK AS AGENT AND PROVISIONAL STATUS OF CREDITS;\nAPPLICABILITY OF TITLE; ITEM ENDORSED “PAY ANY BANK.” (\u00a7 8.4-201)\n\na. Unless a contrary intent clearly appears and before the time that a\nsettlement given by a collecting bank for an item is or becomes final, the bank,\nwith respect to the item, is an agent or subagent of the owner of the item and\nany settlement given for the item is provisional. This provision applies\nregardless of the form of endorsement or lack of endorsement and even though\ncredit given for the item is subject to immediate withdrawal as of right or is\nin fact withdrawn; but the continuance of ownership of an item by its owner and\nany rights of the owner to proceeds of the item are subject to rights of a\ncollecting bank such as those resulting from outstanding advances on the item\nand rights of recoupment or setoff. If an item is handled by banks for purposes\nof presentment, payment, collection or return, the relevant provisions of this\ntitle apply even though action of the parties clearly establishes that a\nparticular bank has purchased the item and is the owner of it.\n\nb. After an item has been endorsed with the words “pay any bank” or\nthe like, only a bank may acquire the rights of a holder until the item has\nbeen:\n\n 1. returned to the customer initiating collection; or\n\n 2. specially endorsed by a bank to a person who is not a bank.\n\nHISTORY: 1964, c. 219; 1992, c. 693.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}