§490:4-204  Methods of sending and
presenting; sending directly to payor bank.  (a)  A collecting bank shall
send items by a reasonably prompt method, taking into consideration relevant
instructions, the nature of the item, the number of those items on hand, the
cost of collection involved, and the method generally used by it or others to
present those items.



(b)  A collecting bank may send:



(1)  An item directly to the payor bank;



(2)  An item to a nonbank payor if authorized by its
transferor; and



(3)  An item other than documentary drafts to a
nonbank payor, if authorized by Federal Reserve regulation or operating
circular, clearing-house rule, or the like.



(c)  Presentment may be made by a presenting
bank at a place where the payor bank or other payor has requested that
presentment be made. [L 1965, c 208, §4-204; HRS §490:4-204; am L 1991, c 118,
pt of §4]