11 §3-1408. Drawee not liable on unaccepted draft
Title 11: UNIFORM COMMERCIAL CODE
Article 3-A: NEGOTIABLE INSTRUMENTS HEADING: PL 1993, C. 293, PT, A, §2 (NEW)
Part 4: LIABILITY OF PARTIES HEADING: PL 1993, C. 293, PT. A, §2 (NEW)
§3-1408. Drawee not liable on unaccepted draft
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. [1993, c. 293, Pt. A, §2 (NEW).]
SECTION HISTORY
1993, c. 293, §A2 (NEW).