{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.4-213.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.4-213.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.4-213.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.4-213.html"}],"law_id":63165,"edition_id":1,"section_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","history":"1964, c. 219; 1992, c. 693.","full_text":"a\n\nAn item is finally paid by a payor bank when the bank has first done any of the following:1\n\npaid the item in cash;2\n\nsettled for the item without having a right to revoke the settlement under statute, clearing-house rule, or agreement; or3\n\nmade a provisional settlement for the item and failed to revoke the settlement in the time and manner permitted by statute, clearing-house rule or agreement.b\n\nIf provisional settlement for an item does not become final, the item is not finally paid.c\n\nIf provisional settlement for an item between the presenting and payor banks is made through a clearing house or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks or between the presenting and successive prior collecting banks seriatim, they become final upon final payment of the item by the payor bank.d\n\nIf a collecting bank receives a settlement for an item which is or becomes final the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final.e\n\nSubject to (i) applicable law stating a time for availability of funds and (ii) any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer’s account becomes available for withdrawal as of right:1\n\nif the bank has received a provisional settlement for the item, when the settlement becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time;2\n\nif the bank is both the depositary bank and the payor bank, and the item is finally paid, at the opening of the bank’s second banking day following receipt of the item.f\n\nSubject to applicable law stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank’s next banking day after receipt of the deposit.","order_by":null,"text":{"0":{"id":230325,"text":"An item is finally paid by a payor bank when the bank has first done any of the following:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":230326,"text":"paid the item in cash;","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":230327,"text":"settled for the item without having a right to revoke the settlement under statute, clearing-house rule, or agreement; or","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"a3"},"3":{"id":230328,"text":"made a provisional settlement for the item and failed to revoke the settlement in the time and manner permitted by statute, clearing-house rule or agreement.","type":"section","prefixes":["a","3"],"prefix":"3","entire_prefix":"a3","prefix_anchor":"a3","level":2,"prior_prefix":"a2","next_prefix":"b"},"4":{"id":230329,"text":"If provisional settlement for an item does not become final, the item is not finally paid.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a3","next_prefix":"c"},"5":{"id":230330,"text":"If provisional settlement for an item between the presenting and payor banks is made through a clearing house or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks or between the presenting and successive prior collecting banks seriatim, they become final upon final payment of the item by the payor bank.","type":"section","prefixes":["c"],"prefix":"c","entire_prefix":"c","prefix_anchor":"c","level":1,"prior_prefix":"b","next_prefix":"d"},"6":{"id":230331,"text":"If a collecting bank receives a settlement for an item which is or becomes final the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final.","type":"section","prefixes":["d"],"prefix":"d","entire_prefix":"d","prefix_anchor":"d","level":1,"prior_prefix":"c","next_prefix":"e"},"7":{"id":230332,"text":"Subject to (i) applicable law stating a time for availability of funds and (ii) any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer’s account becomes available for withdrawal as of right:","type":"section","prefixes":["e"],"prefix":"e","entire_prefix":"e","prefix_anchor":"e","level":1,"prior_prefix":"d","next_prefix":"e1"},"8":{"id":230333,"text":"if the bank has received a provisional settlement for the item, when the settlement becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time;","type":"section","prefixes":["e","1"],"prefix":"1","entire_prefix":"e1","prefix_anchor":"e1","level":2,"prior_prefix":"e","next_prefix":"e2"},"9":{"id":230334,"text":"if the bank is both the depositary bank and the payor bank, and the item is finally paid, at the opening of the bank’s second banking day following receipt of the item.","type":"section","prefixes":["e","2"],"prefix":"2","entire_prefix":"e2","prefix_anchor":"e2","level":2,"prior_prefix":"e1","next_prefix":"f"},"10":{"id":230335,"text":"Subject to applicable law stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank’s next banking day after receipt of the deposit.","type":"section","prefixes":["f"],"prefix":"f","entire_prefix":"f","prefix_anchor":"f","level":1,"prior_prefix":"e2"}},"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}],"previous_section":{"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},"next_section":{"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},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4-213\/","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":68633,"section_number":"8.3A-418","catch_line":"Payment or acceptance by mistake","order_by":null,"url":"\/8.3A-418\/"}],"refers_to":false,"permalink":{"id":283117,"object_type":"law","relational_id":63165,"identifier":"8.4-213","token":"8.4\/2\/8.4-213","url":"\/8.4-213\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.4-213\/","token":"8.4\/2\/8.4-213","dublin_core":{"Title":"Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4-213","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> An item is finally paid by a payor bank<\/span> when the bank has first done any of the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> paid the item in cash; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> settled for the item without having a right to revoke the settlement<\/span> under statute<\/span>, clearing-house rule, or agreement; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> made a provisional settlement<\/span> for the item and failed to revoke the settlement<\/span> in the time and manner permitted by statute<\/span>, clearing-house rule or agreement. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> If provisional settlement<\/span> for an item does not become final, the item is not finally paid. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

c.<\/span> If provisional settlement<\/span> for an item between the presenting and payor banks<\/span> is made through a clearing house or by debits or credits in an account between them, then to the extent that provisional debits or credits for the item are entered in accounts between the presenting and payor banks<\/span> or between the presenting and successive prior collecting banks<\/span> seriatim, they become final upon final payment of the item by the payor bank<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

d.<\/span> If a collecting bank<\/span> receives a settlement<\/span> for an item which is or becomes final the bank is accountable to its customer for the amount of the item and any provisional credit given for the item in an account with its customer becomes final. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

e.<\/span> Subject to (i) applicable law<\/span> stating a time for availability of funds and (ii) any right of the bank to apply the credit to an obligation of the customer, credit given by a bank for an item in a customer’s account becomes available for withdrawal as of right: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> if the bank has received a provisional settlement<\/span> for the item, when the settlement<\/span> becomes final and the bank has had a reasonable time to receive return of the item and the item has not been received within that time; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> if the bank is both the depositary bank<\/span> and the payor bank<\/span>, and the item is finally paid, at the opening of the bank’s second banking day following receipt of the item. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

f.<\/span> Subject to applicable law<\/span> stating a time for availability of funds and any right of a bank to apply a deposit to an obligation of the depositor, a deposit of money becomes available for withdrawal as of right at the opening of the bank’s next banking day after receipt of the deposit. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nFINAL PAYMENT OF ITEM BY PAYOR BANK; WHEN PROVISIONAL DEBITS AND CREDITS BECOME\nFINAL; WHEN CERTAIN CREDITS BECOME AVAILABLE FOR WITHDRAWAL (\u00a7 8.4-213)\n\na. An item is finally paid by a payor bank when the bank has first done any of\nthe following:\n\n 1. paid the item in cash;\n\n 2. settled for the item without having a right to revoke the settlement under\n statute, clearing-house rule, or agreement; or\n\n 3. made a provisional settlement for the item and failed to revoke the\n settlement in the time and manner permitted by statute, clearing-house rule or\n agreement.\n\nb. If provisional settlement for an item does not become final, the item is not\nfinally paid.\n\nc. If provisional settlement for an item between the presenting and payor banks\nis made through a clearing house or by debits or credits in an account between\nthem, then to the extent that provisional debits or credits for the item are\nentered in accounts between the presenting and payor banks or between the\npresenting and successive prior collecting banks seriatim, they become final\nupon final payment of the item by the payor bank.\n\nd. If a collecting bank receives a settlement for an item which is or becomes\nfinal the bank is accountable to its customer for the amount of the item and any\nprovisional credit given for the item in an account with its customer becomes\nfinal.\n\ne. Subject to (i) applicable law stating a time for availability of funds and\n(ii) any right of the bank to apply the credit to an obligation of the customer,\ncredit given by a bank for an item in a customer’s account becomes\navailable for withdrawal as of right:\n\n 1. if the bank has received a provisional settlement for the item, when the\n settlement becomes final and the bank has had a reasonable time to receive\n return of the item and the item has not been received within that time;\n\n 2. if the bank is both the depositary bank and the payor bank, and the item is\n finally paid, at the opening of the bank’s second banking day following\n receipt of the item.\n\nf. Subject to applicable law stating a time for availability of funds and any\nright of a bank to apply a deposit to an obligation of the depositor, a deposit\nof money becomes available for withdrawal as of right at the opening of the\nbank’s next banking day after receipt of the deposit.\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}}