Under the most modern revision to Article 3,a depositary bank cannot become a holder of a check that is deposited by a customer without an indorsement.

Question

Quizplus · Accepted Answer

The revision to Article 3 and the conforming amendments to Articles 1 and 4 address the situation where a check is deposited in a depositary bank without indorsement differently.The depositary bank becomes a holder of an item delivered to it for collection,whether or not it is indorsed by the customer,if the customer at the time of delivery qualified as a holder.

Under the Most Modern Revision to Article 3,a Depositary Bank