The paying bank has a midnight deadline for using the standard return process to bounce the check. However, the presentment and transfer warranties, which cover endorsements, survive the midnight deadline and can haunt the depositary bank for one to three years, depending on where the depositary bank is located (three years in most states). The return process can't be used, but claims without entry are still available, as are the courts.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8