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 the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right. [1961 c.726 §74.5010; 1993 c.545 §110]
Section: Previous 74.2160 74.3010 74.3020 74.3030 74.4010 74.4020 74.4030 74.4040 74.4050 74.4060 74.4070 74.5010 74.5020 74.5030 74.5040 NextLast modified: August 7, 2008