Idaho State Statutes - Idaho Attorney Directory

CHECKS, DRAFTS AND SIMILAR INSTRUMENTS ISSUED OR CERTIFIED BY
BANKING AND FINANCIAL ORGANIZATIONS. (1) Any sum payable on a check, draft, or
similar instrument, except those subject to section 14-504, Idaho Code, on
which a banking or financial organization is directly liable, including a
cashier's check and a certified check, which has been outstanding for more
than five (5) years after it was payable or after its issuance if payable on
demand, is presumed abandoned, unless the owner, within five (5) years, has
communicated in writing with the banking or financial organization concerning
it or otherwise indicated an interest as evidenced by a memorandum or other
record on file prepared by an employee thereof.
(2) A holder may not deduct from the amount of any instrument subject to
this section any charge imposed by reason of the failure to present the
instrument for payment unless there is a valid and enforceable written
contract between the holder and the owner of the instrument pursuant to which
the holder may impose a charge, and the holder regularly imposes such charges
and does not regularly reverse or otherwise cancel them.

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