New Jersey § 12a:3-312

§ 12a:3-312.

a. In this section: (1) “ Check ” means a cashier's check, teller's check, or certified check. (2) “ Claimant ” means a person who claims the right to receive the amount of a cashier's check,

teller's check, or certified check that was lost, destroyed, or stolen. (3) “ Declaration of loss ” means a written statement, made under penalty of perjury, to the effect that: the

declarer lost possession of a check; the declarer is the drawer or payee of the check,

in the case of a certified check, or the remitter or payee of the check, in the case

of a cashier's check or teller's check; the loss of possession was not the result

of a transfer by the declarer or a lawful seizure; and the declarer cannot reasonably

obtain possession of the check because the check was destroyed, its whereabouts cannot

be determined, or it is in the wrongful possession of an unknown person or a person

that cannot be found or is not amenable to service of process. (4) “ Obligated bank ” means the issuer of a cashier's check, teller's check or the acceptor of a certified

check. b. A claimant may assert a claim to the amount of a check by a communication to the

obligated bank describing the check with reasonable certainty and requesting payment

of the amount of the check, if: the claimant is the drawer or payee of a certified

check or the remitter or payee of a cashier's check or a teller's check; the communication

contains or is accompanied by a declaration of loss of the claimant with respect to

the check; the communication is received at a time and in a manner affording the

bank a reasonable time to act on it before the check is paid; and the claimant provides

reasonable identification if requested by the obligated bank. Delivery of a declaration of loss is a warranty of the truth of the statements made

in the declaration. If a claim is asserted in compliance with this subsection, the following rules apply: (1) The claim becomes enforceable at the later of the time the claim is asserted,

or the 90th day following the date of the check, in the case of a cashier's check

or a teller's check, or the 90th day following the date of the acceptance, in the

case of a certified check. (2) Until the claim becomes enforceable, it has no legal effect and the obligated

bank may pay the check or, in the case of a teller's check, may permit the drawee

to pay the check. Payment to a person entitled to enforce the check discharges all liability of the

obligated bank with respect to the check. (3) If the claim becomes enforceable before the check is presented for payment, the

obligated bank is not obliged to pay the check. (4) When the claim becomes enforceable, the obligated bank becomes obliged to pay

the amount of the check to the claimant if payment of the check has not been made

to a person entitled to enforce the check. Subject to paragraph (1) of subsection a. of 12A:4-302, payment to the claimant

discharges all liability of the obligated bank with respect to the check. c. If the obligated bank pays the amount of a check to a claimant under paragraph

(4) of subsection b. of this section and the check is presented for payment by a person

having rights of a holder in due course, the claimant is obliged to refund the payment

to the obligated bank if the check is paid, or pay the amount of the check to the

person having rights of a holder in due course if the check is dishonored. d. If a claimant has the right to assert a claim under subsection b. of this section

and is also a person entitled to enforce a cashier's check, teller's check, or certified

check which is lost, destroyed, or stolen, the claimant may assert rights with respect

to the check either under this section or 12A:3-309.