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4-4-501. Handling of documentary drafts — Duty to send for presentment and to notify customer of dishonor.
Arkansas Code — all titles (historical 2020) · legal_authorities
4-4-501. 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.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 4-4-501
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:4-4-501
Source file: gov.ar.code.title.04.odt
Pages: Not recorded – Not recorded
Passage SHA-256: db57c4aac9bb98179cd0356629996a6b9bd90dde0d1a882349a5f9b9c968d013
Source location: content.xml paragraph 5958
Stored source content
4-4-501. 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.
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