A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.
94 Acts, ch 1167, §55, 121, 122
Effective July 1, 1995; 94 Acts, ch 1167, §122; former section repealed effective July 1, 1995; 94 Acts, ch 1167, §121, 122; for law prior to July 1, 1995, see Code 1993; see also §554.3303
Previous Section 554.3407
Next Section 554.3409
© 2002 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Thu Jan 24 10:51:05 CST 2002
URL: /DOCS/IACODE/2001SUPPLEMENT/554/3408.html
jhf