This course is part of Deposit Account Regulations Module 1 of the RegTraC Level 1 compliance certification program. Take it on its own to learn more about UCC Articles 3 and 4- Law of Checking Accounts or complete all of the Deposit Account Regulations courses (R101A-R101F). Receive national recognition by completing RegTraC Level 1 Modules 1-5 and earning your Compliance Achievement Award Certificate. Learn more about RegTraC.

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In this course you will learn:

• The background and purpose of the Uniform Commercial Code
• The general provisions and important definitions of Article 3 of the Code
• Enforcement of lost, stolen, or destroyed instruments
• The accord and satisfaction doctrine, and liability of parties
• Dishonor of instruments
• The general principles of UCC Article 4
• The collection of items for depositary and collection banks
• The collection of items for payor banks
• The relationship between the payor credit union and its members