Sec. 42a-7-508. Warranties of collecting bank as to documents of title.
Sec. 42a-7-508. Warranties of collecting bank as to documents of title. A collecting bank or other intermediary known to be entrusted with documents of title on
behalf of another or with collection of a draft or other claim against delivery of documents warrants by the delivery of the documents only its own good faith and authority
even if the collecting bank or other intermediary has purchased or made advances against
the claim or draft to be collected.
(1959, P.A. 133, S. 7-508; P.A. 04-64, S. 36.)
History: P.A. 04-64 amended section to adopt the 2003 Revision of Uniform Commercial Code Article 7-Documents
of Title.