Alaska § 45.04.201 - Status of collecting bank as agent and provisional status of credits; applicability; item endorsed “pay any bank”.
Full text of Alaska Alaska Statutes § 45.04.201 — Status of collecting bank as agent and provisional status of credits; applicability; item endorsed “pay any bank”., with citation guidance and answers to common questions.
§ 45.04.201. Status of collecting bank as agent and provisional status of credits; applicability; item endorsed “pay any bank”.
(a) Unless a contrary intent clearly appears and before a settlement given by a collecting bank for an item becomes final, the bank, with respect to the item, is an agent or subagent of the owner of the item and a 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of endorsement and even though credit given for the item is subject to immediate withdrawal as of right or is in fact withdrawn; but the continuance of ownership of an item by its owner and the rights of the owner to proceeds of the item are subject to rights of a collecting bank such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 chapter apply even though action of the parties clearly establishes that a particular bank has purchased the item and is the owner of it.
(b) 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 (1) returned to the customer initiating collection; or
(2) specially endorsed by a bank to a person who is not a bank.
Source: official Alaska text · Last verified 2026-08-27
Frequently Asked Questions About Alaska § 45.04.201
What does Alaska Statutes § 45.04.201 cover?
Section 45.04.201 ("Status of collecting bank as agent and provisional status of credits; applicability; item endorsed “pay any 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 § 45.04.201?
A common citation format is "Alaska Statutes § 45.04.201" (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 § 45.04.201 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.