Utah Statutes
§ 70A-4-501 — Handling of documentary drafts -- Duty to send for presentment and to notify customer of dishonor.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-4 Uniform Commercial Code - Bank Deposits and Collections·Part 70A-4-5 Collection of Documentary Drafts
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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Utah § 70A-4-501 (Handling of documentary drafts -- Duty to send for presentment and to notify customer of dishonor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended 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Laws not repealed.§ 70A-1a-101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.