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Code · Louisiana · Title 10 — Commercial Laws

RS 10:3-408

66 words·~1 min read·/la/title-10/10-59

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RS 10:3-408
§3-408. Drawee not liable on unaccepted draft
A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.
Acts 1992, No. 1133, §3, eff. July 1, 1993; Acts 1993, No. 948, §10, eff. Jan. 1, 1994.
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