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2017 Missouri Revised Statutes
Title XXVI TRADE AND COMMERCE
Chapter 400 Uniform Commercial Code
Section 400.4-501 Handling of documentary drafts — duty to send for presentment and to notify customer of dishonor.
Universal Citation: MO Rev Stat § 400.4-501 (2017)
Effective 28 Aug 1992
Title XXVI TRADE AND COMMERCE
Chapter 400400.4-501. Handling of documentary drafts — duty to send for presentment and to notify customer of dishonor. — 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.
(L. 1963 p. 503 § 4-501, A.L. 1992 S.B. 448)
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