Iowa § 554.4204 Methods of sending and presenting — sending directly to payor bank

Iowa Statutes

§ 554.4204 — Methods of sending and presenting — sending directly to payor bank

Iowa § 554.4204

Title XIIICOMMERCE

Ch. 554UNIFORM COMMERCIAL CODE

This text of Iowa § 554.4204 (Methods of sending and presenting — sending directly to payor bank) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 554.4204 (2026).

Text

1.A collecting bank shall send items by a reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved, and the method generally used by it or others to present those items.

2.A collecting bank may send:

a.an item directly to the payor bank;

b.an item to a nonbank payor if authorized by its transferor; and

c.an item other than documentary drafts to any nonbank payor, if authorized by federal reserve regulation or operating circular, clearing-house rule, or the like.

3.Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.

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1. A collecting bank shall send items by a reasonably prompt method, taking into
consideration relevant instructions, the nature of the item, the number of those items on
hand, the cost of collection involved, and the method generally used by it or others to present
those items.
2. A collecting bank may send:
a. an item directly to the payor bank;
b. an item to a nonbank payor if authorized by its transferor; and
c. an item other than documentary drafts to any nonbank payor, if authorized by federal
reserve regulation or operating circular, clearing-house rule, or the like.
3. Presentment may be made by a presenting bank at a place where the payor bank or
other payor has requested that presentment be made.