Pennsylvania Statutes
§ 4501 — Handling of documentary drafts; duty to send for presentment and to notify customer
Pennsylvania § 4501
This text of Pennsylvania § 4501 (Handling of documentary drafts; duty to send for presentment and to notify customer) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
13 Pa. Cons. Stat. § 4501 (2026).
Text
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
(July 9, 1992, P.L.507, No.97, eff. one year)
Nearby Sections
4
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Bluebook (online)
Pennsylvania § 4501, Counsel Stack Legal Research, https://law.counselstack.com/statute/pa/13/4501.