There is a newer version of the New Jersey Revised Statutes
2023
2022
2021
2020
2019
Other previous versions
View our newest version here

2013 New Jersey Revised Statutes
Title 12A - COMMERCIAL TRANSACTIONS
Section 12A:4-501 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor


NJ Rev Stat § 12A:4-501 (2013) What's This?

12A: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.1995,c.28,s.2.


Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.