South Dakota Statutes
§ 57A-4-501 — Handling of documentary drafts; Duty to send for presentment and to notify customer of dishonor.
South Dakota § 57A-4-501
This text of South Dakota § 57A-4-501 (Handling of documentary drafts; Duty to send for presentment and to notify customer of dishonor.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
S.D. Codified Laws § 57A-4-501 (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
SL 1994, ch 368, § 4-501.
Nearby Sections
15
§ 57A-1-101
Short title.§ 57A-1-102
Scope of chapter.§ 57A-1-104
Construction against implied repeal.§ 57A-1-105
Severability.§ 57A-1-106
Use of singular and plural--Gender.§ 57A-1-107
Section captions.§ 57A-1-201
General definitions.§ 57A-1-202
Notice--Knowledge.§ 57A-1-203
Lease distinguished from security interest.§ 57A-1-204
Value.§ 57A-1-205
Reasonable time--Seasonableness.§ 57A-1-206
Presumptions.§ 57A-1-207
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Bluebook (online)
South Dakota § 57A-4-501, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/57A-4-501.