- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 3. Negotiable Instruments
- Section 411. Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks.
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. Acceptance Varying Draft.
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. Obligation of Issuer of Note or Cashier's Check.
AS 45.03.411. Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks.
- (a) If the obligated bank wrongfully refuses to pay a cashier's check or certified check, stops payment of a teller's
check, or refuses to pay a dishonored teller's check, the person asserting the right to enforce the check is entitled
to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages
if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages.
- (b) Expenses or consequential damages under (a) of this section are not recoverable if
- (1) the refusal of the obligated bank to pay occurs because the bank suspends payments;
- (2) the obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available
against the person entitled to enforce the instrument;
- (3) the obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the
- (4) payment is prohibited by law.
- (c) In this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or
teller's check bought from the issuer.
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