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2025 Pennsylvania Consolidated & Unconsolidated Statutes
Title 13 - COMMERCIAL CODE
Chapter 45 - Collection of Documentary Drafts
Section 4501 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
Universal Citation:
13 PA Cons Stat § 4501 (2025)
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§ 4501. 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.
(July 9, 1992, P.L.507, No.97, eff. one year)
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