Payor bank's responsibility for late return of item.

(b) The liability of a payor bank to pay an item pursuant to subsection (a) is subject to defenses based on breach of a presentment warranty under section 42a-4-208 or proof that the person seeking enforcement of the liability presented or transferred the item for the purpose of defrauding the payor bank. See Sec. 42a-4-207 (1) re warranties of customer and collecting bank on transfer or presentment of items. Cited. 230 C. 486; 232 C. 167.