Oklahoma Statutes
§ 12A-4-501 — Handling of Documentary Drafts; Duty to Send for
Oklahoma § 12A-4-501
JurisdictionOklahoma
Title 12AUniform Commercial Code
This text of Oklahoma § 12A-4-501 (Handling of Documentary Drafts; Duty to Send for) is published on Counsel Stack Legal Research, covering Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Okla. Stat. tit. 12A, § 12A-4-501 (2026).
Text
Presentment and to Notify Customer of Dishonor. HANDLING OF DOCUMENTARY DRAFTS; DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY CUSTOMER OF DISHONOR 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
Laws 1961, p. 131, § 4-501; Laws 1991, c. 117, § 130, eff. Jan. 1, 1992.
Nearby Sections
15
§ 12A-1-101
Short titles.§ 12A-1-102
Scope of article.§ 12A-1-104
Construction against implicit repeal.§ 12A-1-106
Use of singular and plural - Gender.§ 12A-1-107
Section captions.§ 12A-1-108
Repealed§ 12A-1-108.1
Relationship to Electronic Signatures in Global and§ 12A-1-202
Notice - Knowledge.§ 12A-1-203
Lease distinguished from security interest.§ 12A-1-204
"Value".§ 12A-1-205
Reasonable time - Seasonableness.§ 12A-1-206
Presumptions.Cite This Page — Counsel Stack
Bluebook (online)
Oklahoma § 12A-4-501, Counsel Stack Legal Research, https://law.counselstack.com/statute/ok/12A/12A-4-501.