California Statutes
§ 4501. — 4501. (Amended by Stats. 1992, Ch. 914, Sec. 47.)
California § 4501.
JurisdictionCalifornia
Code COMCommercial Code - COM
Div. 4.DIVISION 4. BANK DEPOSITS AND COLLECTIONS
Ch. 5.CHAPTER 5. Collection of Documentary Drafts
This text of California § 4501. (4501. (Amended by Stats. 1992, Ch. 914, Sec. 47.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Cal. Commercial Code - COM Code § 4501. (2026).
Text
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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Legislative History
Amended by Stats. 1992, Ch. 914, Sec. 47. Effective January 1, 1993.
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California § 4501., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/COM/4501..