{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/8.4-302.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/8.4-302.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/8.4-302.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/8.4-302.html"}],"law_id":55309,"edition_id":1,"section_id":55309,"structure_id":14151,"section_number":"8.4-302","catch_line":"Payor bank’s responsibility for late return of item","history":"Code 1950, \u00a7\u00a7 6-543.1 to 6-543.3, pp. 60, 61; 1964, c. 219; 1992, c. 693.","full_text":"a\n\nIf an item is presented and received by a payor bank, the bank is accountable for the amount to:1\n\na demand item, other than a documentary draft, whether properly payable or not if the bank, in any case where it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline; or2\n\nany other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents.b\n\nThe liability of a payor bank to pay an item pursuant to subsection (a) is subject to defenses based on breach of a presentment warranty (§ 8.4-207.2) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.","order_by":null,"text":{"0":{"id":202835,"text":"If an item is presented and received by a payor bank, the bank is accountable for the amount to:","type":"section","prefixes":["a"],"prefix":"a","entire_prefix":"a","prefix_anchor":"a","level":1,"next_prefix":"a1"},"1":{"id":202836,"text":"a demand item, other than a documentary draft, whether properly payable or not if the bank, in any case where it is not also the depositary bank, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether it is also the depositary bank, does not pay or return the item or send notice of dishonor until after its midnight deadline; or","type":"section","prefixes":["a","1"],"prefix":"1","entire_prefix":"a1","prefix_anchor":"a1","level":2,"prior_prefix":"a","next_prefix":"a2"},"2":{"id":202837,"text":"any other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents.","type":"section","prefixes":["a","2"],"prefix":"2","entire_prefix":"a2","prefix_anchor":"a2","level":2,"prior_prefix":"a1","next_prefix":"b"},"3":{"id":202838,"text":"The liability of a payor bank to pay an item pursuant to subsection (a) is subject to defenses based on breach of a presentment warranty (§ 8.4-207.2) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank.","type":"section","prefixes":["b"],"prefix":"b","entire_prefix":"b","prefix_anchor":"b","level":1,"prior_prefix":"a2"}},"ancestry":[{"id":14151,"edition_id":1,"name":"Collection of Items: Payor Banks","identifier":"3","label":"part","depth":2,"order_by":1,"parent_id":12768,"metadata":{},"date_created":"2026-06-26 03:47:03","date_modified":"2026-06-26 03:47:03","permalink":{"id":283125,"object_type":"structure","relational_id":14151,"identifier":"3","token":"8.4\/3","url":"\/8.4\/3\/","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":58497,"structure_id":14151,"section_number":"8.4-301","catch_line":"Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank","url":"\/8.4-301\/","token":"8.4\/3\/8.4-301","metadata":false},{"id":55309,"structure_id":14151,"section_number":"8.4-302","catch_line":"Payor bank's responsibility for late return of item","url":"\/8.4-302\/","token":"8.4\/3\/8.4-302","metadata":false},{"id":82797,"structure_id":14151,"section_number":"8.4-303","catch_line":"When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified","url":"\/8.4-303\/","token":"8.4\/3\/8.4-303","metadata":false}],"previous_section":{"id":58497,"structure_id":14151,"section_number":"8.4-301","catch_line":"Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank","url":"\/8.4-301\/","token":"8.4\/3\/8.4-301","metadata":false},"next_section":{"id":82797,"structure_id":14151,"section_number":"8.4-303","catch_line":"When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified","url":"\/8.4-303\/","token":"8.4\/3\/8.4-303","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4-302\/","history_text":"

The record of this law\u2019s original creation isn\u2019t available online. It has been modified 2 times. 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. Those modifications are as follows: in 1964, chapter 219; in 1992, chapter 693.<\/p>","references":[{"id":82560,"section_number":"8.3A-312","catch_line":"Lost, destroyed, or stolen cashier's check, teller's check, or certified check","order_by":null,"url":"\/8.3A-312\/"},{"id":60859,"section_number":"8.3A-502","catch_line":"Dishonor","order_by":null,"url":"\/8.3A-502\/"},{"id":82797,"section_number":"8.4-303","catch_line":"When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified","order_by":null,"url":"\/8.4-303\/"}],"refers_to":[{"id":80890,"section_number":"8.4-207.2","catch_line":"Presentment warranties","order_by":null,"url":"\/8.4-207.2\/"}],"permalink":{"id":283131,"object_type":"law","relational_id":55309,"identifier":"8.4-302","token":"8.4\/3\/8.4-302","url":"\/8.4-302\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/8.4-302\/","token":"8.4\/3\/8.4-302","dublin_core":{"Title":"Payor bank’s responsibility for late return of item","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4-302","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

a.<\/span> If an item is presented and received by a payor bank<\/span>, the bank is accountable for the amount to: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> a demand item, other than a documentary draft, whether properly payable or not if the bank, in any case where it is not also the depositary bank<\/span>, retains the item beyond midnight of the banking day of receipt without settling for it or, regardless of whether it is also the depositary bank<\/span>, does not pay or return the item or send notice of dishonor until after its midnight deadline; or <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> any other properly payable item unless, within the time allowed for acceptance or payment of that item, the bank either accepts or pays the item or returns it and accompanying documents. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

b.<\/span> The liability of a payor bank<\/span> to pay an item pursuant to subsection (a) is subject to defenses based on breach of a presentment<\/span> warranty (§ 8.4-207.2<\/a>) or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPAYOR BANK’S RESPONSIBILITY FOR LATE RETURN OF ITEM (\u00a7 8.4-302)\n\na. If an item is presented and received by a payor bank, the bank is accountable\nfor the amount to:\n\n 1. a demand item, other than a documentary draft, whether properly payable or\n not if the bank, in any case where it is not also the depositary bank, retains\n the item beyond midnight of the banking day of receipt without settling for it\n or, regardless of whether it is also the depositary bank, does not pay or\n return the item or send notice of dishonor until after its midnight deadline;\n or\n\n 2. any other properly payable item unless, within the time allowed for\n acceptance or payment of that item, the bank either accepts or pays the item\n or returns it and accompanying documents.\n\nb. The liability of a payor bank to pay an item pursuant to subsection (a) is\nsubject to defenses based on breach of a presentment warranty (§ 8.4-207.2)\nor proof that the person seeking enforcement of the liability presented or\ntransferred the item for the purpose of defrauding the payor bank.\n\nHISTORY: Code 1950, \u00a7\u00a7 6-543.1 to 6-543.3, pp. 60, 61; 1964, c. 219; 1992, c.\n693.","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}}