Mich. Comp. Laws § 440.3408

Current through Public Act 39 of the 2024 Legislative Session

Section 440.3408 - Check or draft; operation as assignment

A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is not liable on the instrument until the drawee accepts it.

MCL 440.3408

1962, Act 174, Eff. 1/1/1964 ;--Am. 1993, Act 130, Eff. 9/30/1993.