Oregon § 74.2040 Methods of sending and presenting; presentment

Oregon Statutes

§ 74.2040 — Methods of sending and presenting; presentment

Oregon § 74.2040

Vol.2

Title 8Commercial Transactions

Ch. 74Bank Deposits and Collections

This text of Oregon § 74.2040 (Methods of sending and presenting; presentment) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 74.2040 (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 a 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 a 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.