2012 Pennsylvania Consolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 33 - Enforcement of Instruments
Section 3304 - Overdue instrument

     § 3304.  Overdue instrument.
        (a)  Instrument payable on demand.--An instrument payable on
     demand becomes overdue at the earliest of the following times:
            (1)  on the day after the day demand for payment is duly
        made;
            (2)  if the instrument is a check, 90 days after its
        date; or
            (3)  if the instrument is not a check, when the
        instrument has been outstanding for a period of time after
        its date which is unreasonably long under the circumstances
        of the particular case in light of the nature of the
        instrument and usage of the trade.
        (b)  Instrument payable at a definite time.--With respect to
     an instrument payable at a definite time, the following rules
     apply:
            (1)  If the principal is payable in installments and a
        due date has not been accelerated, the instrument becomes
        overdue upon default under the instrument for nonpayment of
        an installment, and the instrument remains overdue until the
        default is cured.
            (2)  If the principal is not payable in installments and
        the due date has not been accelerated, the instrument becomes
        overdue on the day after the due date.
            (3)  If a due date with respect to principal has been
        accelerated, the instrument becomes overdue on the day after
        the accelerated due date.
        (c)  Instrument not overdue if default in payment of
     interest.--Unless the due date of principal has been
     accelerated, an instrument does not become overdue if there is
     default in payment of interest but no default in payment of
     principal.