Utah Statutes
§ 70A-4-109 — Delays.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-4 Uniform Commercial Code - Bank Deposits and Collections·Part 70A-4-1 General Provisions and Definitions
(1)Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this act for a period not exceeding two additional banking days without discharge of drawers, indorsers, or liability to its transferor or a prior party.
(2)Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this chapter or by instructions is excused if:
(2)(a) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank; or
(2)(b)
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Legislative History
Repealed and Re-enacted by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.