2006 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.4-204 METHODS OF SENDING AND PRESENTING; SENDING DIRECTLY TO PAYOR BANK.
336.4-204 METHODS OF SENDING AND PRESENTING; SENDING DIRECTLY TO
PAYOR BANK.
(a) A collecting bank shall send items by a reasonably prompt method, taking into
consideration relevant instructions, the nature of the item, the number of those items on hand, the
cost of collection involved, and the method generally used by it or others to present those items.
(b) A collecting bank may send:
(1) an item directly to the payor bank;
(2) an item to a nonbank payor if authorized by its transferor; and
(3) an item other than documentary drafts to a nonbank payor, if authorized by federal
reserve regulation or operating circular, clearinghouse rule, or the like.
(c) Presentment may be made by a presenting bank at a place where the payor bank or other
payor has requested that presentment be made.
History: 1965 c 811 s 336.4-204; 1992 c 565 s 86
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