554.3409 Acceptance of draft — certified check. 1. 'Acceptance' means the drawee’s signed agreement to pay a draft as presented. It must be written on the draft and may consist of the drawee’s signature alone. Acceptance may bemade at any time and becomes effective when notification pursuant to instructions is givenor the accepted draft is delivered for the purpose of giving rights on the acceptance to anyperson. 2. A draft may be accepted although it has not been signed by the drawer, is otherwise incomplete, is overdue, or has been dishonored. 3. If a draft is payable at a fixed period after sight and the acceptor fails to date the acceptance, the holder may complete the acceptance by supplying a date in good faith. 4. 'Certified check' means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection 1 or by a writing on the check which indicates that thecheck is certified. The drawee of a check has no obligation to certify the check, and refusalto certify is not dishonor of the check. 94 Acts, ch 1167, §56, 121, 122Referred to in §554.3103, 554.4104, 554.5102 Sat Dec 23 01:56:56 2023 Iowa Code 2024, Section 554.3409 (24, 0)
Iowa Legal Code