47-4501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
Section: Previous 47-4401 47-4402 47-4403 47-4404 47-4405 47-4406 47-4407 47-4501 47-4502 47-4503 47-4504 47-4a101 47-4a102 47-4a103 47-4a104 NextLast modified: October 13, 2016