There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 4 Bank Deposits and Collections
355.4.109 Delays.
Download pdfthe approval of any person involved, may waive, modify, or extend time limits
imposed or permitted by this chapter for a period not exceeding two (2) additional
banking days without discharge of drawers or indorsers or liability to its transferor
or a prior party. (2) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this chapter or by instructions is excused if:
(a) The delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure
of equipment, or other circumstances beyond the control of the bank; and (b) The bank exercises such diligence as the circumstances require. Effective: January 1, 1997
History: Repealed, reenacted, renumbered as KRS 355.4-109, and amended, 1996 Ky. Acts ch. 130, sec. 80, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77,
sec. 4-108, effective July 1, 1960. Formerly codified as KRS 355.4-108.
History for former 355.4-109: Repealed 1996 Ky. Acts ch. 130, sec. 182, effective January 1, 1997. -- Created 1964 Ky. Acts ch. 130, sec. 8, effective July 1, 1964.
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