PART 5. 
COLLECTION OF DOCUMENTARY DRAFTS



 



§490:4-501  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 such fact even though it may have discounted or bought the draft or
extended credit available for withdrawal as of right. [L 1965, c 208, §4-501;
HRS §490:4-501; am L 1991, c 118, pt of §4]