§ 6A-3-312 - Lost, destroyed, or stolen cashier's check, teller's check, or certified check.
SECTION 6A-3-312
§ 6A-3-312 Lost, destroyed, or stolencashier's check, teller's check, or certified check. – (a) In this section:
(1) "Check" means a cashier's check, teller's check, orcertified check.
(2) "Claimant" means a person who claims the right to receivethe amount of a cashier's check, teller's check, or certified check that waslost, destroyed, or stolen.
(3) "Declaration of loss" means a written statement, madeunder penalty of perjury, to the effect that (i) the declarer lost possessionof a check, (ii) the declarer is the drawer or payee of the check, in the caseof a certified check, or the remitter or payee of the check, in the case of acashier's check or teller's check, (iii) the loss of possession was not theresult of a transfer by the declarer or a lawful seizure, and (iv) the declarercannot reasonably obtain possession of the check because the check wasdestroyed, its whereabouts cannot be determined, or it is in the wrongfulpossession of an unknown person or a person that cannot be found or is notamenable to service of process.
(4) "Obligated bank" means the issuer of a cashier's check orteller's check or the acceptor of a certified check.
(b) A claimant may assert a claim to the amount of a check bya communication to the obligated bank describing the check with reasonablecertainty and requesting payment of the amount of the check, if (i) theclaimant is the drawer or payee of a certified check or the remitter or payeeof a cashier's check or teller's check, (ii) the communication contains or isaccompanied by a declaration of loss of the claimant with respect to the check,(iii) the communication is received at a time and in a manner affording thebank a reasonable time to act on it before the check is paid, and (iv) theclaimant provides reasonable identification if requested by the obligated bank.Delivery of a declaration of loss is a warranty of the truth of the statementsmade in the declaration. If a claim is asserted in compliance with thissubsection, the following rules apply:
(1) The claim becomes enforceable at the later of (i) thetime the claim is asserted, or (ii) the ninetieth (90th) day following the dateof the check, in the case of a cashier's check or teller's check, or theninetieth (90th) day following the date of the acceptance, in the case of acertified check.
(2) Until the claim becomes enforceable, it has no legaleffect and the obligated bank may pay the check or, in the case of a teller'scheck, may permit the drawee to pay the check. Payment to a person entitled toenforce the check discharges all liability of the obligated bank with respectto the check.
(3) If the claim becomes enforceable before the check ispresented for payment, the obligated bank is not obliged to pay the check.
(4) When the claim becomes enforceable, the obligated bankbecomes obliged to pay the amount of the check to the claimant if payment ofthe check has not been made to a person entitled to enforce the check. Subjectto § 6A-4-302(a)(1), payment to the claimant discharges all liability ofthe obligated bank with respect to the check.
(c) If the obligated bank pays the amount of a check to aclaimant under subsection (b)(4) and the check is presented for payment by aperson having rights of a holder in due course, the claimant is obliged to (i)refund the payment to the obligated bank if the check is paid, or (ii) pay theamount of the check to the person having rights of a holder in due course ifthe check is dishonored.
(d) If a claimant has the right to assert a claim undersubsection (b) and is also a person entitled to enforce a cashier's check,teller's check, or certified check which is lost, destroyed, or stolen, theclaimant may assert rights with respect to the check either under this sectionor § 6A-3-309.