The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
47-3411 - Refusal to pay cashier's checks, teller's checks and certified checks
47-3411. Refusal to pay cashier's checks, teller's checks and certified checks
A. In this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the issuer.
B. If the obligated bank wrongfully refuses to pay a cashier's check or certified check, stops payment of a teller's check or refuses to pay a dishonored teller's check, the person asserting the right to enforce the check is entitled to compensation for expenses and loss of interest resulting from the nonpayment and may recover consequential damages if the obligated bank refuses to pay after receiving notice of particular circumstances giving rise to the damages.
C. Expenses or consequential damages under subsection B are not recoverable if the refusal of the obligated bank to pay occurs because:
1. The bank suspends payments;
2. The obligated bank asserts a claim or defense of the bank that it has reasonable grounds to believe is available against the person entitled to enforce the instrument;
3. The obligated bank has a reasonable doubt whether the person demanding payment is the person entitled to enforce the instrument; or