(a) "Agreement for electronic presentment" means an agreement, clearing-house rule, or federal reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of the item or information describing the item ("presentment notice") rather than delivery of the item itself. The agreement may provide for procedures governing retention, presentment, payment, dishonor, and other matters concerning items subject to the agreement.
(b) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received.
(c) If presentment is made by presentment notice, a reference to "item" or "check" in this Article means the presentment notice unless the context otherwise indicates. (1995, c. 232, s. 2.)
Sections: Previous 25-4-103 25-4-104 25-4-105 25-4-105.1 25-4-106 25-4-107 25-4-108 25-4-110 25-4-111 25-4-201 25-4-202 25-4-203 25-4-204 25-4-205 25-4-206 Next
Last modified: March 23, 2014