Answer:
by Ken Golliher:
An indemnity agreement can say anything, there is no standard form. With relatively recent modifications to the UCC fewer and fewer banks make use of indemnity agreements in this context because the law provides a more objective, clear-cut mechanism.
Look to see if your state enacted Article 3-312 of the UCC. It dictates the methodology for replacing lost or stolen official check, but focuses on a more realistic waiting period: 90 days.
Answer:
by John Burnett:
If the checks are issued by or certified by a bank in the state of New York, I believe that the procedures for handling a lost, stolen or destroyed official check or certified check is found in section 4-403(2) of the New York UCC. When I last checked, all the other states had adopted section 3-312, but you should see how it is worded in your state.
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