Webinar: UCC 3 & 4 on Negotiable Instruments: Time Frames, Legal Concerns & Member Issues
Articles 3 and 4 of the Uniform Commercial Code (UCC) and Federal Reserve Regulation CC govern: checks, drafts and other negotiable instruments; the relationship between a financial institution and its accountholders; and the relationship between financial institutions participating in the check-clearing process. This webinar will provide a practical, simplified summary of these complex laws and regulations.
About This Session:
This webinar will cover the following topics:
- When is a check properly payable? When is a check return timely?
- When is an endorsement required? What is a proper endorsement?
- What is a "holder in due course," and why is it important?
- What is the credit union's liability for paying a check over a stop payment?
- May a financial institution pay checks and other debits in any order they select?
- Who is liable for: a forged drawer's signature on a check, a forged endorsement and encoding errors?
- For how long may holds be placed on checks?
Who Should Participate:
Tellers, attorneys, back office personnel, call center staff, branch administration, branch managers, new account representatives and fraud/security departments.
About the Presenter:
Paul Carrubba, JD, Adams and Reese, LLP
As a partner in the law firm of Adams and Reese, LLP, Paul Carrubba focuses on payment system laws/regulations and operations issues. An author and frequent speaker, he also serves as a litigation consultant and expert witness on banking procedures. Carrubba began his banking career at Deposit Guaranty National Bank in Jackson, Miss., where he worked as senior VP and operations manager for 20+ years. He also served as Southern Financial Exchange board chairman and was a member NACHA's executive committee and board, as well as other executive positions.