Oregon § 74.2120 Presentment by notice of item not payable by, through or at bank; liability of drawer or indorser

Oregon Statutes

§ 74.2120 — Presentment by notice of item not payable by, through or at bank; liability of drawer or indorser

Oregon § 74.2120

Vol.2

Title 8Commercial Transactions

Ch. 74Bank Deposits and Collections

This text of Oregon § 74.2120 (Presentment by notice of item not payable by, through or at bank; liability of drawer or indorser) 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. § 74.2120 (2026).

Text

(1)Unless otherwise instructed, a collecting bank may present an item not payable by, through or at a bank by sending to the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the party to accept or pay under ORS 73.0501 by the close of the bank’s next banking day after it knows of the requirement.

(2)If presentment is made by notice, and payment, acceptance or request for compliance with a requirement under ORS 73.0501 is not received by the close of business on the day after maturity or, in the case of demand items, by the close of business on the third banking day after notice was sent, the presenting bank ma

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(1) Unless otherwise instructed, a collecting bank may present an item not payable by, through or at a bank by sending to the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the party to accept or pay under ORS 73.0501 by the close of the bank’s next banking day after it knows of the requirement.
(2) If presentment is made by notice, and payment, acceptance or request for compliance with a requirement under ORS 73.0501 is not received by the close of business on the day after maturity or, in the case of demand items, by the close of business on the third banking day after notice was sent, the presenting bank may treat the item as dishonored and charge any drawer or indorser by sending it notice of the facts.