Texas Business & Commerce Code - Section 4.204. Methods Of Sending And Presenting; Sending Directly To Payor Bank
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§ 4.204. METHODS OF SENDING AND PRESENTING; SENDING
DIRECTLY TO PAYOR BANK. (a) A collecting bank shall send items by a
reasonably prompt method, taking into consideration relevant
instructions, the nature of the item, the number of those items on
hand, the cost of collection involved, and the method generally
used by it or others to present those items.
(b) A collecting bank may send:
(1) an item directly to the payor bank;
(2) an item to a non-bank payor if authorized by its
transferor; and
(3) an item other than a documentary draft to a
non-bank payor, if authorized by Federal Reserve regulation or
operating circular, clearing-house rule, or the like.
(c) Presentment may be made by a presenting bank at a place
where the payor bank or other payor has requested that presentment
be made.
Acts 1967, 60th Leg., p. 2343, ch. 785, § 1, eff. Sept. 1, 1967.
Amended by Acts 1995, 74th Leg., ch. 921, § 4, eff. Jan. 1, 1996.
Section: 4.109 4.110 4.111 4.112 4.201 4.202 4.203 4.204 4.205 4.206 4.207 4.208 4.209 4.210 4.211
Last modified: August 10, 2007
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