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Current as of January 01, 2024 | Updated by FindLaw Staff
1. A payor or collecting bank's authority to accept, pay, or collect an item, or to account for proceeds of its collection if otherwise effective is not rendered ineffective by incompetence of a customer of either bank existing at the time the item is issued or its collection is undertaken if the bank does not know of an adjudication of incompetence. Neither death nor incompetence of a customer revokes the authority to accept, pay, collect, or account until the bank knows of the fact of death or of an adjudication of incompetence and has reasonable opportunity to act on it.
2. Even with knowledge a bank may for ten days after the date of death pay or certify checks drawn on or before that date unless ordered to stop payment by a person claiming an interest in the account.
Cite this article: FindLaw.com - North Dakota Century Code Title 41. Uniform Commercial Code § 41-04-36. (4-405) Death or incompetence of customer - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-41-uniform-commercial-code/nd-cent-code-sect-41-04-36/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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