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2012 Utah Code
Title 70A - Uniform Commercial Code
Article 4 - Uniform Commercial Code - Bank Deposits and Collections
Section 501 - Handling of documentary drafts -- Duty to send for presentment and to notify customer of dishonor.
Universal Citation:
UT Code ยง 70A-4-501 (2012)
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70A-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.
Amended by Chapter 237, 1993 General Session
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