Consumer Banking and Payments Law: C. 229.35(c) Indorsement by Bank
1. This section protects the rights of a customer depositing a check in a bank without requiring the words “pay any bank,” as required by the UCC (See U.C.C. 4-201(b).) Use of this language in a depositary bank’s indorsement will make it more difficult for other banks to identify the depositary bank. The applicable industry standard prohibits such material in subsequent collecting bank indorsements. The existence of a bank indorsement provides notice of the restrictive indorsement without any additional words.