§490:3-312  Lost, destroyed, or stolen
cashier's check, teller's check, or certified check.  (a)  In this section:



(1)  "Check" means a cashier's check,
teller's check, or certified check.



(2)  "Claimant" means a person who claims
the right to receive the amount of a cashier's check, teller's check, or
certified check that was lost, destroyed, or stolen.



(3)  "Declaration of loss" means a written
statement, made under penalty of perjury, to the effect that (i) the declarer
lost possession of a check, (ii) 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, (iii) the loss of
possession was not the result of a transfer by the declarer or a lawful
seizure, and (iv) 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 a person that cannot be
found or is not amenable to service of process.



(4)  "Obligated bank" means the issuer of a
cashier's check or teller's check or the acceptor of a certified check.



(b)  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
(i) 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, (ii) the communication contains
or is accompanied by a declaration of loss of the claimant with respect to the
check, (iii) the communication is received at a time and in a manner affording
the bank a reasonable time to act on it before the check is paid, and (iv) the
claimant provides reasonable identification if requested by the obligated
bank.  Delivery of a declaration of loss is a warranty of the truth of the
statements made in the declaration.  If a claim is asserted in compliance with
this subsection, the following rules apply:



(1)  The claim becomes enforceable at the later of (i)
the time the claim is asserted, or (ii) the ninetieth day following the date of
the check, in the case of a cashier's check or teller's check, or the ninetieth
day following the date of the acceptance, in the case of a certified check.



(2)  Until the claim becomes enforceable, it has no
legal effect and the obligated bank may pay the check or, in the case of a
teller's check, may permit the drawee to pay the check.  Payment to a person
entitled to enforce the check discharges all liability of the obligated bank
with respect to the check.



(3)  If the claim becomes enforceable before the check
is presented for payment, the obligated bank is not obliged to pay the check.



(4)  When the claim becomes enforceable, the obligated
bank becomes obliged to pay the amount of the check to the claimant if payment
of the check has not been made to a person entitled to enforce the check. 
Subject to section 490:4-302(a)(1), payment to the claimant discharges all
liability of the obligated bank with respect to the check.



(c)  If the obligated bank pays the amount of a
check to a claimant under subsection (b)(4) and the check is presented for
payment by a person having rights of a holder in due course, the claimant is
obliged to (i) refund the payment to the obligated bank if the check is paid,
or (ii) pay the amount of the check to the person having rights of a holder in
due course if the check is dishonored.



(d)  If a claimant has the right to assert a
claim under subsection (b) and is also a person entitled to enforce a cashier's
check, teller's check, or certified check which is lost, destroyed, or stolen,
the claimant may assert rights with respect to the check either under this
section or section 490:3-309. [L 1995, c 40, §1]