• § 11-4-501 - 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...
• § 11-4-502 - 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...
• § 11-4-503 - 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 Article 5 of this title, a bank presenting a documentary draft: (1) Must deliver the documents...
• § 11-4-504 - 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: October 14, 2016