7-15-3 - Liability of financial institution upon wrongful dishonor.
7-15-3. Liability of financial institution upon wrongful dishonor.
If a person is liable to a holder under Section 7-15-1 or under a contract with a depositoryinstitution as provided in Subsection 7-15-1(9), and the liability is proximately caused by afinancial institution's wrongful dishonor under Section 70A-4-402, any award against the financialinstitution under Section 70A-4-402 shall include all amounts awarded against the person to theholder under:
(1) Section 7-15-1; or
(2) the contract with the depository institution as provided in Subsection 7-15-1(9).
Amended by Chapter 9, 2001 General Session