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Financial Institutions Act | |
Dishonored Instruments | |
Section 3 | Liability of financial institution upon wrongful dishonor. |
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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 depository institution as provided in Subsection 7-15-1(9), and the liability is proximately caused by a financial institution's wrongful dishonor under Section 70A-4-402, any award against the financial institution under Section 70A-4-402 shall include all amounts awarded against the person to the holder 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 |
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