7-15-3. 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