Title 11, §4-501: Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

§4-501 PDF
§4-501 MS-Word
Statute Search
Art. 4 Contents
Title 11 Contents
List of Titles
Maine Law & Disclaimer
Revisor's Office
Maine Legislature

§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. [PL 1993, c. 293, Pt. B, §45 (AMD).]

SECTION HISTORY

PL 1993, c. 293, §B45 (AMD).

The Revisor's Office cannot provide legal advice or interpretation of Maine law to the public.
If you need legal advice, please consult a qualified attorney.

Office of the Revisor of Statutes · 7 State House Station · State House Room 108 · Augusta, Maine 04333-0007

Data for this page extracted on 1/07/2025 11:10:17.