§490:4-109  [OLD]  REPEALED.  L 1991, c
118, pt of §4.



 



§490:4-109  Delays.  (a)  Unless
otherwise instructed, a collecting bank in a good faith effort to secure
payment of a specific item drawn on a payor other than a bank, and with or
without the approval of any person involved, may waive, modify, or extend time
limits imposed or permitted by this chapter for a period not exceeding two
additional banking days without discharge of drawers or indorsers or liability
to its transferor or a prior party.



(b)  Delay by a collecting bank or payor bank
beyond time limits prescribed or permitted by this chapter or by instructions
is excused if (i) the delay is caused by interruption of communication or
computer facilities, suspension of payments by another bank, war, emergency
conditions, failure of equipment, or other circumstances beyond the control of
the bank, and (ii) the bank exercises such diligence as the circumstances
require. [L 1965, c 208, §4-108; HRS §490:4-108; am and ren L 1991, c 118, pt
of §4]