9-1213. Payment of certain drafts of failed or closed banks.
9-1213
9-1213. Payment of certain drafts of failed or closed banks.
If any bank shall be presented in the usual course of business with a
draft drawn on it by any bank in the state of Kansas, after said drawer
bank has failed or been closed for business by law or by other proper legal
action, which said draft was issued prior to the failure or closing of said
bank and has on deposit to the credit of said failed or closed bank
sufficient funds with which to pay said draft, said bank shall, upon
receiving proof that said draft represents payment of cash letters covering
checks which had been charged to the individual accounts of the said failed
or closed bank prior to the failure or closing of said bank, honor and pay
said draft regardless of its having received notice, constructive or
otherwise, of the failure or closing of such bank.
History: L. 1955, ch. 66, § 1; June 30.