§ 6A-4-212 - Presentment by notice of item not payable by, through, or at bank – Liability of drawer or indorser. - Rhode-island Statutes

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Statutes > Rhode-island > Title-6a > Chapter-6a-4 > 6a-4-212

SECTION 6A-4-212

§ 6A-4-212 Presentment by notice of itemnot payable by, through, or at bank – Liability of drawer or indorser.– (a) Unless otherwise instructed, a collecting bank may present an item notpayable by, through, or at a bank by sending to the party to accept or pay awritten notice that the bank holds the item for acceptance or payment. Thenotice must be sent in time to be received on or before the day whenpresentment is due and the bank must meet any requirement of the party toaccept or pay under § 6A-3-501 by the close of the bank's next banking dayafter it knows of the requirement.

(b) If presentment is made by notice and payment, acceptance,or request for compliance with a requirement under § 6A-3-501 is notreceived by the close of business on the day after maturity or, in the case ofdemand items, by the close of business on the third banking day after noticewas sent, the presenting bank may treat the item as dishonored and charge anydrawer or indorser by sending it notice of the facts.

State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-4 > 6a-4-212

SECTION 6A-4-212

§ 6A-4-212 Presentment by notice of itemnot payable by, through, or at bank – Liability of drawer or indorser.– (a) Unless otherwise instructed, a collecting bank may present an item notpayable by, through, or at a bank by sending to the party to accept or pay awritten notice that the bank holds the item for acceptance or payment. Thenotice must be sent in time to be received on or before the day whenpresentment is due and the bank must meet any requirement of the party toaccept or pay under § 6A-3-501 by the close of the bank's next banking dayafter it knows of the requirement.

(b) If presentment is made by notice and payment, acceptance,or request for compliance with a requirement under § 6A-3-501 is notreceived by the close of business on the day after maturity or, in the case ofdemand items, by the close of business on the third banking day after noticewas sent, the presenting bank may treat the item as dishonored and charge anydrawer or indorser by sending it notice of the facts.

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State Codes and Statutes

Statutes > Rhode-island > Title-6a > Chapter-6a-4 > 6a-4-212

SECTION 6A-4-212

§ 6A-4-212 Presentment by notice of itemnot payable by, through, or at bank – Liability of drawer or indorser.– (a) Unless otherwise instructed, a collecting bank may present an item notpayable by, through, or at a bank by sending to the party to accept or pay awritten notice that the bank holds the item for acceptance or payment. Thenotice must be sent in time to be received on or before the day whenpresentment is due and the bank must meet any requirement of the party toaccept or pay under § 6A-3-501 by the close of the bank's next banking dayafter it knows of the requirement.

(b) If presentment is made by notice and payment, acceptance,or request for compliance with a requirement under § 6A-3-501 is notreceived by the close of business on the day after maturity or, in the case ofdemand items, by the close of business on the third banking day after noticewas sent, the presenting bank may treat the item as dishonored and charge anydrawer or indorser by sending it notice of the facts.