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2020 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 4 - Bank Deposits and Collections
Part 5 - Collection of Documentary Drafts
§ 47-4-501. Handling of Documentary Drafts; Duty to Send for Presentment and to Notify Customer of Dishonor
Universal Citation: TN Code § 47-4-501 (2020)
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.
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