There is a newer version of the Kentucky Revised Statutes
2009 Kentucky Revised Statutes
Article 4 Bank Deposits and Collections
355.4.502 Presentment of "on arrival" drafts.
Download pdfarrive" or the like, the collecting bank need not present until in its judgment a reasonable
time for arrival of the goods has expired. Refusal to pay or accept because the goods have
not arrived is not dishonor; the bank must notify its transferor of the refusal but need not
present the draft again until it is instructed to do so or learns of the arrival of the goods. Effective: January 1, 1997
History: Amended 1996 Ky. Acts ch. 130, sec. 109, effective January 1, 1997. -- Created 1958 Ky. Acts ch. 77, sec. 4-502, effective July 1, 1960.
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