California Government Code 17402 – The presenting bank and the endorsers of a state warrant or check …
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The presenting bank and the endorsers of a state warrant or check presented to the Treasurer for redemption are deemed to guarantee that all prior endorsements are genuine, whether or not an express guaranty is placed on the item. When the first endorsement has been made by one other than the payee personally, the presenting bank and the endorsers are deemed to guarantee to the Treasurer, in addition to other warranties, that the person who so endorsed had unqualified capacity and authority to endorse the item on behalf of the payee.
(Added by Stats. 1977, Ch. 622.)
Terms Used In California Government Code 17402
- Person: includes any person, firm, association, organization, partnership, limited liability company, business trust, corporation, or company. See California Government Code 17
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18