§ 36-3-505 — Evidence of dishonor.

South Carolina § 36-3-505

• Jurisdiction: South Carolina
• Title 36: COMMERCIAL CODE
• Ch. 3: COMMERCIAL CODE—NEGOTIABLE INSTRUMENTS

Text

(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (1) a document regular in form as provided in Subsection (b) which purports to be a protest; (2) a purported stamp or writing of the drawee, payor bank, or presenting bank on or accompanying the instrument stating that acceptance or payment has been refused unless reasons for the refusal are stated and the reasons are not consistent with dishonor; (3) a book or record of the drawee, payor bank, or collecting bank, kept in the usual course of business which shows dishonor, even if there is no evidence of who made the entry. (b) A protest is a certificate of dishonor made by a United States consul or vice consul, or a notary public or other person authorized to administer oaths by the law of the place where dishonor occurs. It may be made upon information satisfactory to that person. The protest must identify the instrument and certify either that presentment has been made or, if not made, the reason why it was not made, and that the instrument has been dishonored by nonacceptance or nonpayment. The protest may also certify that notice of dishonor has been given to some or all parties.

Legislative History

HISTORY: 1962 Code SECTION 10.3-505; 1966 (54) 2716; 2008 Act No. 204, SECTION 2, eff July 1, 2008. SECTIONS 36-3-506 to 36-3-511. Omitted by 2008 Act No. 204, SECTION 2, eff July 1, 2008. Editor's Note Former SECTION 36-3-506 was entitled "Time allowed for acceptance or payment" and was derived from 1962 Code SECTION 10.3-506; 1966 (54) 2716. Former SECTION 36-3-507 was entitled "Dishonor; holder's right of recourse; term allowing representment" and was derived from 1962 Code SECTION 10.3-507; 1966 (54) 2716. Former SECTION 36-3-508 was entitled "Notice of dishonor" and was derived from 1962 Code SECTION 10.3-508; 1966 (54) 2716. Former SECTION 36-3-509 was entitled "Protest; noting for protest" and was derived from 1962 Code SECTION 10.3-509; 1966 (54) 2716. Former SECTION 36-3-510 was entitled "Evidence of dishonor and notice of dishonor" and was derived from 1962 Code SECTION 10.3-510; 1966 (54) 2716. Former SECTION 36-3-511 was entitled "Waived or excused presentment, protest or notice of dishonor or delay therein" and was derived from 1962 Code SECTION 10.3-511; 1966 (54) 2716. Part 6 Discharge and Payment Editor's Note 2008 Act No. 204, SECTION 1, provides in part as follows: "The South Carolina Reporters' Comments contained in Chapters 3 and 4 of Title 36, may not be reproduced in whole or in part in any form or for inclusions in any material which is offered for sale without the express written permission of the Clerk of the South Carolina Senate." 2008 Act No. 204, SECTION 4.A, provides as follows: "This act applies to a transaction occurring on or after the effective date [July 1, 2008] of this act. This act does not apply to a transaction or event, or obligation or duty arising out of or associated with a transaction or event, before the effective date of this act." 2008 Act No. 204, SECTION 4.B, provides as follows: "A transaction occurring before the effective date [july 1, 2008] of this act and the rights, obligations, and interests flowing from that transaction are governed by any statute or other law amended or repealed by this act as if repeal or amendment had not occurred and may be terminated, completed, consummated, or enforced under that statute or other law."