Michigan § 440.4205 - Depositary bank; item delivered by customer for collection.
Full text of Michigan Michigan Compiled Laws § 440.4205 — Depositary bank; item delivered by customer for collection., with citation guidance and answers to common questions.
§ 440.4205. Depositary bank; item delivered by customer for collection.
If a customer delivers an item to a depositary bank for collection, then both of the following apply:
The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer endorses the item, and, if the bank satisfies the other requirements of section 3302, it is a holder in due course.
The depositary bank warrants to collecting banks, the payor bank or other payor, and the drawer that the amount of the item was paid to the customer or deposited to the customer's account.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.4205
What does Michigan Compiled Laws § 440.4205 cover?
Section 440.4205 ("Depositary bank; item delivered by customer for collection.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. 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 Michigan § 440.4205?
A common citation format is "Michigan Compiled Laws § 440.4205" (Michigan). 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 Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.4205 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan 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 Michigan.