Alaska § 45.04.301 - Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
Full text of Alaska Alaska Statutes § 45.04.301 — Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank., with citation guidance and answers to common questions.
§ 45.04.301. Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
(a) If a payor bank settles for a demand item other than a documentary draft presented other than for immediate payment over the counter before midnight of the banking day of receipt, the payor bank may revoke the settlement and recover the settlement if, before it has made final payment and before its midnight deadline, it (1) returns the item; or
(2) sends written notice of dishonor or nonpayment if the item is unavailable for return.
(b) If a demand item is received by a payor bank for credit on its books, it may return the item or send notice of dishonor and may revoke a credit given or recover the amount of the credit withdrawn by its customer if it acts within the time limit and in the manner specified in (a) of this section.
(c) Unless previous notice of dishonor has been sent, an item is dishonored at the time when, for purposes of dishonor, it is returned or notice is sent in accordance with this section.
(d) An item is returned (1) as to an item presented through a clearinghouse, when it is delivered to the presenting or last collecting bank or to the clearinghouse or is sent or delivered in accordance with clearinghouse rules; or
(2) in all other cases, when it is sent or delivered to the bank's customer or transferor or under the instructions of the customer or transferor.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.04.301
What does Alaska Statutes § 45.04.301 cover?
Section 45.04.301 ("Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.") is part of the Alaska Statutes, the codified statutory law of Alaska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alaska § 45.04.301?
A common citation format is "Alaska Statutes § 45.04.301" (Alaska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alaska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alaska official source linked on this page or consult a licensed Alaska attorney.
How does Alaska § 45.04.301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alaska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alaska.