§490:4-501 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 such fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right. [L 1965, c 208, §4-501; HRS §490:4-501; am L 1991, c 118, pt of §4]
Section: Previous 490-4-401 490-4-402 490-4-403 490-4-404 490-4-405 490-4-406 490-4-407 490-4-501 490-4-502 490-4-503 490-4-504 490-4a-101 490-4a-102 490-4a-103 490-4a-104 NextLast modified: October 27, 2016