There is a newer version
of
this Section
2017 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 074 - Bank Deposits and Collections
Section 74.5010 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
Universal Citation: OR Rev Stat § 74.5010 (2017)
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. [1961 c.726 §74.5010; 1993 c.545 §110]
Disclaimer: These codes may not be the most recent version. Oregon 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.
