Ohio § 1303.63 Notice of dishonor - UCC 3-503

Ohio Statutes

§ 1303.63 — Notice of dishonor - UCC 3-503

Ohio § 1303.63

Title 13Commercial Transactions

Ch. 1303Commercial Paper

This text of Ohio § 1303.63 (Notice of dishonor - UCC 3-503) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1303.63 (2026).

Text

(A)The obligation of an indorser set forth in division (A) of section1303.55of the Revised Code and the obligation of a drawer set forth in division (D) of section1303.54of the Revised Code may not be enforced unless one of the following applies:

(1)The indorser or drawer is given notice of dishonor of the instrument complying with this section;

(2)Notice of dishonor is excused under division (B) of section1303.64of the Revised Code.

(B)Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. The return of an instrument given to a bank for

Free access — add to your briefcase to read the full text and ask questions with AI

(A) The obligation of an indorser set forth in division (A) of section1303.55of the Revised Code and the obligation of a drawer set forth in division (D) of section1303.54of the Revised Code may not be enforced unless one of the following applies:

(1) The indorser or drawer is given notice of dishonor of the instrument complying with this section;

(2) Notice of dishonor is excused under division (B) of section1303.64of the Revised Code.

(B) Notice of dishonor may be given by any person; may be given by any commercially reasonable means, including an oral, written, or electronic communication; and is sufficient if it reasonably identifies the instrument and indicates that the instrument has been dishonored or has not been paid or accepted. The return of an instrument given to a bank for collection is sufficient notice of dishonor.

(C) Subject to division (C) of section1303.54of the Revised Code, with respect to an instrument taken for collection by a collecting bank, notice of dishonor must be given in one of the following ways:

(1) By the bank before midnight of the next banking day following the banking day on which the bank receives notice of dishonor of the instrument;

(2) By any other person no later than thirty days after the day on which the person receives notice of dishonor. With respect to any other instrument, notice of dishonor must be given no later than thirty days after the day on which dishonor occurs.