Arkansas Code Title 4, Subtitle 1, Chapter 4, Part 5 - Collection of Documentary Drafts

• § 4-4-501 - 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...
• § 4-4-502 - Presentment of "on Arrival" Drafts.
  If a draft or the relevant instructions require presentment "on arrival", "when goods arrive" or the like, the collecting bank need not present until...
• § 4-4-503 - Responsibility of Presenting Bank for Documents and Goods -- Report of Reasons for Dishonor -- Referee in Case of Need.
  Unless otherwise instructed and except as provided in chapter 5 of this subtitle, a bank presenting a documentary draft: (1) must deliver the documents...
• § 4-4-504 - Privilege of Presenting Bank to Deal With Goods -- Security Interest for Expenses.
  (a) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable...

Last modified: November 15, 2016