Search OpenLegislation Statutes
This entry was published on 2014-09-22
The selection dates indicate all change milestones for the entire volume, not just the location being viewed. Specifying a milestone date will retrieve the most recent version of the location before that date.
Process of Posting
Uniform Commercial Code (UCC) CHAPTER 38, ARTICLE 4, PART 1
Section 4--109. Process of Posting.

The "process of posting" means the usual procedure followed by a payor
bank in determining to pay an item and in recording the payment
including one or more of the following or other steps as determined by
the bank:

(a) verification of any signature;

(b) ascertaining that sufficient funds are available;

(c) affixing a "paid" or other stamp;

(d) entering a charge or entry to a customer's account;

(e) correcting or reversing an entry or erroneous action with respect
to the item.