403.312 Lost, destroyed or stolen cashier’s check, teller’s check or certified check.

344 words·~2 min read·/wi/chapter-403/403-312

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)In this section:

(a)“Check” means a cashier’s check, teller’s check or certified check.

(b)“Claimant” means a person who claims the right to receive the amount of a check that was lost, destroyed or stolen.

(c)“Declaration of loss” means a written statement, made under penalty of perjury, to the effect that the declarer lost possession of a check, that the declarer is the drawer or payee of the check, in the case of a certified check, or the remitter or payee of the check, in the case of a cashier’s check or teller’s check, that the loss of possession was not the result of a transfer by the declarer or a lawful seizure, and that the declarer cannot reasonably obtain possession of the check because the check was destroyed, its whereabouts cannot be determined or it is in the wrongful possession of an unknown person or of a person that cannot be found or is not amenable to service of process.

(d)“Obligated bank” means the issuer of a cashier’s check or teller’s check or the acceptor of a certified check.

(a)A claimant may assert a claim to the amount of a check by a communication to the obligated bank describing the check with reasonable certainty and requesting payment of the amount of the check if all of the following apply:

1. The claimant is the drawer or payee of a certified check or the remitter or payee of a cashier’s check or teller’s check.

2. The communication contains or is accompanied by a declaration of loss of the claimant with respect to the check.

3. The communication is received at a time and in a manner affording the obligated bank a reasonable time to act on it before the check is paid.

4. The claimant provides reasonable identification if requested by the obligated bank.

(b)Delivery of a declaration of loss is a warranty of the truth of the statements made in the declaration of loss.