Indiana § 26-1-4-204 Methods of sending and presenting; sending directly to payor bank

Indiana Statutes

§ 26-1-4-204 — Methods of sending and presenting; sending directly to payor bank

Indiana § 26-1-4-204

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 4Bank Deposits and Collections

This text of Indiana § 26-1-4-204 (Methods of sending and presenting; sending directly to payor bank) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-4-204 (2026).

Text

(a)A collecting bank shall send items by 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.

(b)A collecting bank may send:

(1)an item directly to the payor bank;

(2)an item to a nonbank payor if authorized by its transferor; and

(3)an item other than documentary drafts to a nonbank payor, if authorized by Federal Reserve regulation or operating circular, clearing-house rule, or the like.

(c)Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made. Formerly: Acts 1963, c.317, s.4-204. As amended by P.L.222-1993, SEC.20.

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(a) A collecting bank shall send items by
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.
(b) A collecting bank may send:
(1) an item directly to the payor bank;
(2) an item to a nonbank payor if authorized by its transferor; and
(3) an item other than documentary drafts to a nonbank payor, if
authorized by Federal Reserve regulation or operating circular,
clearing-house rule, or the like.
(c) Presentment may be made by a presenting bank at a place where
the payor bank or other payor has requested that presentment be made.
Formerly: Acts 1963, c.317, s.4-204. As amended by
P.L.222-1993, SEC.20.