Arizona Statutes
§ 47-4501 — Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
Arizona·Title 47 Arizona Revised Statutes·Ch. 4 BANK DEPOSITS AND COLLECTIONS·Art. 5 Collection of Documentary Drafts
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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Arizona § 47-4501 (Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 47-10101
Provision for transition§ 47-1101
Short title§ 47-1102
Scope of chapter§ 47-1103
Construction to promote purposes and policies; applicability of supplemental principles of law§ 47-1104
Construction against implied repeal§ 47-1105
Severability§ 47-1106
Use of singular and plural; gender§ 47-1107
Section captions§ 47-1201
General definitions§ 47-1202
Notice; knowledge§ 47-1204
Value§ 47-1205
Reasonable time; "seasonably"§ 47-1206
Presumptions