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Part 1 (Chapters 1 to 3)

Pertinent part
Preliminary chapter - Of the check classes
Chapter I - Of the common check
Chapter II - Of the transmission
Chapter III - Of the presentation and the payment

Part 2 (Chapters 4 to 12)

Chapter IV - Of the resource for want of payment
Chapter V - Of the check cruzado
Chapter I SAW - Of the check to credit in account
Chapter VII - Of the imputed check
Chapter VIII - Of the check certificate
Chapter IX - Of the check with “nonnegotiable” clause
Chapter X - Of Endorsement
Chapter XI - Of the check of deferred payment
Chapter XII - Common dispositions

Part 3 (Chapter 13 and Annexes)

Chapter XIII - Complementary dispositions
Annex II - “Bottom of financing of the program for people with incapacity
Decree 464/98 - Zones affected by the emergencia state or dehorn

Part 1

Sanctioned by Law 24,452 (pertinent part) the 8.2.95, promulgated the 22.2.95 (B.O. 2.3.95).
Modified by Law 24,760, article 11º, sanctioned the 11.12.96, promulgated the 9.1.97 (B.O. 13.1.97).
Law 24,959, article 13, sanctioned the 6.5.98, promulgated the 27.5.98 (B.O. 29.5.98)
Decree 462/98, promulgated the 29.4.98 (B.O. 4.5.98)
Decree 961/98, promulgated the 14.8.98 (B.O. 20.8.98)
Decree 347/99, promulgated the 15/4/99 (B.O. 16.4.99)
Law 24.452
- Pertinent Part
Article 1º - the decree Would countermand law 4776/63, modified by the laws 16,613 and 23,549, whose norms they will be replaced by the established ones in Annex I, denominated “ check law ”, that is part
member of the present law.
Article 5º - the checks will not be able to be burdened with tributes in form some.
Article 6º - They are applicable to checks of payment deferred anticipated in the article 1º of the present
law, the interjections 2º), 3º) and 4º) of article 302 of the Penal Code.
Article 7º - the bottoms that the Central bank of the Argentine Republic by virtue of the fines anticipated in the present law collects, will automatically be transferred Retired the National Institute of Social Security for and Pensioners, created by law 19.032. The institute will exclusively destine the bottoms to the financing of programs of integral attention for the people with incapacity I decipher in the Annex II that comprises of the present article.
Article 8º - the Central bank of the Argentine Republic will come to the public diffusion to inform to the population into the reaches and benefits into the system that introduces in credit and payment means.
Article 9º - This law will enter use the sixty days of its publication in the Government reporter.
Article 10º - One communicates to the National Executive authority.
Given in the room of Sessions of the Argentine Congress, in Bu Aires, to the eight days of the month of
February of year thousands nine hundred ninety and - Alberto R. five Pierri - Eduardo Menem - Esther H. Pereyra
Arandía de Brown Perez - Edgardo Piuzzi.
Annex I
Check law

- Of the check classes
Article 1º - the checks are of two classes:
I. common Checks.
II. Check of deferred payment.

- Del common Check
Article 2º - the common check must contain:
1. The denomination “ check ” inserts in its text, in the language used for its writing;
2. A number of printed order in the body of the check;
3. The indication of the place and the date of creation;
4. The name of the financial organization turned and the address of payment;
5. The order pure and simple to pay to a determined sum of money, expressed in letters and numbers, specifying the currency class. When the amount written in letters differed from the express one in numbers, it will be in favor of first;
6. 1. The company/signature of the drawer. The Central bank will authorize the use of electronic systems of reproduction of companies or its substitutes for the check rescue, in the measurement that its implementation assures the trustworthiness the operation of emission and authentication as a whole, in agreement with the regulation that the same determines. The title that to the being presented/displayed to the collection will lack some of the specified enunciations precedingly will not be worth like check, unless the creation place will have been omitted in which case will be presumed so like the one of the address of the drawer.
2. The check rejected by formal reasons will generate a fine in charge of the holders of the current account, that will be deposited in the form anticipated by article 62, equivalent to the two percent (2%) of its value, with a minimum of fifty pesos ($50) and a maximum of twenty-five thousand pesos ($25.000). The application authority will have the closing the current account on which such checks are turned, when they exceed the number that determines the regulation or when the fine has not been satisfied. The fine will be reduced in the fifty percent (50%) when it is ehacientemente credited ehacientemente before the drawee to have paid the check within the seven (7) banking working days of to be notified the rejection or when the check had been paid by the drawee by means of one second presentation of the possesor.
Article 3º - the address of the drawee against which the check gets rid determines the applicable law.
1 L. 24,760, Art. 11º, b)
2 Ls. 24,760, Art. 11º, c)
The address that the drawer has registered before the drawee could be considered address special
to all the legal effects derived from the check.
Article 4º - the check must be extended in a formula provided by the drawee. In
formula the number of the check will have to consist forms and the one of the current account, the address of payment, the name of the holder and the address that this one has registered before the drawee, tributary or labor identification or of identity, according to regulates the Central bank of the Argentine Republic. When the notebook of check formulas is not retired personally by asked for that it, the drawee will not pay the checks that will appear to him until not obtaining the conformity of the holder on the reception of the notebook.
Article 5º - In case of deviation or subtraction of formulas of check without using, checks created but not emitted or the special formula to ask for those, the holder of the current account will have to warn immediately to the drawee. In equal form he will have to come when he had knowledge of which a check already emitted had been altered. The warning also can give it the holding destitute.
The warning skilled in writing prevents the payment of the check, under responsibility of the holder of the current account or the holding destitute. The drawee will have to inform to the Central bank of the Argentine Republic of the warnings skilled by the drawer in the terms that the regulation determines. Exceeded the limit that it settles down he will come to the closing of the current account.
Article 6º - the check can be extended:
1. In favor of a certain person;
2. In favor of a person determined with the clause “ not at your service ”;
3. To the carrier. The check without indication of the beneficiary will be worth like check to the carrier.
Article 7º - the check can be created in favor of the same drawer. It cannot be turned on the drawer, unless one was a check turned between different establishments from same a drawer. It can be turned on behalf of a third party, in the conditions that the regulation establishes.
Article 8º - If an incomplete check to the time of its creation had been completed in opposite form to the agreements determined that it, the nonobservance in such agreements cannot be against to the carrier, unless it had acquired this one it of bad faith or that when acquiring it had incurred serious fault.
Article 9º - All stipulation of interests inserts in the check will be had by not written.
Article 10º - If the check took companies of people incapable to commit themselves by check, false companies or of imaginary people or companies that for any other reason could not force the people signed that it or whose name the check was signed, the obligations of the other signers would not be, for this reason, less valid.
The one that put its company/signature in a check like representative of a person of who does not have to be able for that act, is exchangely forced the same as if it had signed to his own name; and if it had paid, it has the same right that the represented assumption had had. The same solution will be applied when the represented one exceeds its faculties.
Article 11º - the drawer is responsible of the payment. All clause by which it is exonerated of this guarantee
it will be had by not written.

- Of the transmission
Article 12º - the check extended in favor of a certain person is transmissible by endorsement.
The endorsement can also be made in favor of the drawer or of any other forced. These people
they can endorse the check again.
The check extended in favor of a person determined with the clause “ not at your service ” is not
transmissible but under the form and with the effects of a cession of credits.
The check to the carrier is transmissible by means of the simple delivery.
Article 13º - the endorsement must be pure and simple. All condition to which it is subordinated will have by not written.
The partial endorsement is null. The endorsement of the drawee is equally null. The endorsement to the carrying bond like endorsement in target. The endorsement in favor of the drawee is worth only like receipt, except for the case that the drawee had several establishments and of which the endorsement became in favor of an establishment different from that one on which the check was turned.
Article 14º - 3El endorsement must be written to the back of the check or on a leaf together with the same. It must be signed by the endorser and will have to contain the specifications that the Central bank of the Argentine Republic establishes the one that also will be able to admit companies in the conditions established in point of the 6 article 2º for the last previous endorsement to the deposit. The endorsement can not designate to the beneficiary. The endorsement that does not contain the specifications that the regulation establishes does not harm
Article 15º - the endorsement transmits all the resulting rights of the check. If the endorsement were in
target, the carrier will be able:
1. To fill the target, is with their name, is with the one of another person;
2. To again endorse the check in target or to another person;
3. To give the check to a third party without filling the target nor endorsing.
Article 16º - the endorser is, except for clause in opposite, guarantor of the payment.
He can prohibit a new endorsement and in this case he will not be responsible towards the people to those who
check later will be endorsed.
3 Ls. 24,760, Art. 11º, d)
Article 17º - the possesor of an endorsable check will be considered like legitimate carrier if he justifies his right by an uninterrupted series of endorsements, even though the last one outside in target. The erased endorsements will be had, in this respect, like not written. If an endorsement in target were followed of another endorsement, it will be considered that the signer of this last one acquired the check by the endorsement in target. Of not appearing the date, it is presumed that the position of the endorsements indicates the order in that they have been
Article 18º - the endorsement that appears in a check to the carrier does to the endorser responsible in the terms for the dispositions which they govern the resource, but does not change the regime of circulation of the title.
Article 19º - When a person had been destitute of a check by any event, the carrier whose hands would have arrived the check, is that it is a check to the carrier, is that it is one endorsable one with respect to which the carrier justifies its right in the form indicated in article 17, will not be forced to come off itself him but had acquired when it of bad faith o S.A. to acquire would have it
incurred serious fault.
Article 20º - the people demanded by virtue of a check cannot oppose to the carrier the exceptions founded on their personal relations with the drawer or the previous carriers, unless the carrier, when acquiring the check, had built knowingly to the detriment of the indebted one.
Article 21º - When the endorsement contained the mention “ value to the collection ”, “ in power of attorney ” or any other that imply a mandate, the carrier will be able to exercise all the rights that derive from the check, but will not be able to endorse it but by way of power of attorney.
The forced ones will not be able, in this case, to invoke against the carrier but the oponibles exceptions to the endorser.
The mandate contained in an endorsement in power of attorney is not extinguished by the death of ordering or its sobreviniente incapacity.
Article 22º - the endorsement subsequent to the presentation to the collection and rejection of the check by the drawee only produces the effects of a cession of credits. It is presumed that the endorsement dateless has been done before the presentation or of the victory of the term for the presentation.

- Of the presentation and the payment
Article 23º - the common check is always payable at sight. All opposite mention will be had by not written.
4No will subsequent to consider check to the formula emitted dated the day of its presentation to the collection
or deposit. They are inoponibles to the contest, bankruptcy, succession of the drawer and the exchange forced others, being in addition invalid, in case of sobreviniente incapacity of the drawer, the formulas that brief later dates to the dates in which these facts will happen.
4 Ls. 24,760, Art. 11º, e). The modification introduced by this interjection will have use as of the 365 days of
publication of the present law.
Article 24º - the check cannot be accepted. All mention of acceptance will be had by not written.
Article 25º - the term of presentation of a check freed in the Argentine Republic is of thirty (30) days counted from the date of its creation. The term of presentation of a ruined check abroad and grace period in the Republic is of sixty (60) days counted from the date of its creation. If the term won in a banking unskillful day, the check could be presented/displayed the first banking working day following to the one of its victory.
Article 26º - When the presentation of the check within the terms established in the preceding article would be prevented by an unsalvable obstacle (legal prescription of a State any or another case of greater force), the terms of presentation will be prorogued.
The possesor and the endorsers must give the warning that prescribes article 39.
Stopped the greater force, the carrier he must, without retardation, to present/display the check. Cases of greater force are not considered the purely personal facts to the carrier, or that one to that had been in charge the presentation to him of the check.
Article 27º - If the greater force lasted more than thirty (30) days of fulfilled the terms established in article 25, the action to obtain title can be exercised without needing presentation.
Article 28º - If the check is deposited for its collection, the date of the deposit will be considered date of presentation.
Article 29º - the revocation of the payment order does not have effect but after expired the term for the presentation.
If there were not revocation, the drawee will be able to pay it after the victory of the term, whenever he had not passed more of another equal lapse to the term.
Article 30º - Neither the sobreviniente incapacity nor death liberating its after the emission affect the effects of the check, except for the arranged thing in article 23.
Article 31º - the drawee can demand when paying the check that is given to him cancelled by the carrier.
The carrier cannot refuse a partial payment.
In case of partial payment, the drawee can demand that mention of this payment in the check becomes and that receipt is granted.
The check will conserve all effects by the unpaid balance.
Article 32º - the drawee who pays an endorsable check is forced to verify the regularity of the series of endorsements, but not it authenticity of the company/signature of the endorsers except the last one.
The check to the carrier will be paid to the possesor presents/displays who it to the collection.
Article 33º - the check must be freed in the payment currency that corresponds to the current account against which tour.
Article 34º - the drawee who paid the check is validly released, unless he has come with dolo or he blames burdens. One will refuse to only pay it in the cases established in this law or its regulation.
Article 35º - the drawee will be responsible for the consequences of the payment of a check, in the following cases:
1. When the company/signature of liberating visibly was falsified.
2. When the document did not meet the essential requirements specified in the article 2º.
3. When the check had not been extended in one of the formulas given to the drawer in accordance with arranged in the article 4º.
Article 36º - the holder of the current account will respond of the damages:
1. When the company/signature had been falsified in some of the formulas given in accordance with arranged in the article 4º and the falsification would not be visibly manifest.
2. When it had not fulfilled the obligations imposed by the article 5º.
The falsification will consider when it can be appraised at first, within the rapidity and prudence visibly manifest imposed by the normal movement of the businesses of the drawee, in I collate of the company/signature of the check with the registered one in the drawee, at the time of the payment.
Article 37º - When the ends indicated in preceding articles do not concur both, the judges will be able to distribute the responsibility between the drawee, the holder of the current account and the beneficiary carrier, where appropriate, in agreement with the circumstances and the degree of fault which each of them had incurred.


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