Wisconsin Statutes
§ 404.501 — Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
Wisconsin § 404.501
JurisdictionWisconsin
Ch. 404Uniform commercial code — bank deposits and collections
Subch.subch. V of ch. 404 SUBCHAPTER V
COLLECTION OF DOCUMENTARY DRAFTS
This text of Wisconsin § 404.501 (Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wis. Stat. § 404.501 (2026).
Text
404.501 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
404.501 History History: 1995 a. 449 ; 1997 a. 35 .
Nearby Sections
15
§ 404.102
Applicability.§ 404.105
“Bank”; “collecting bank”; “depository bank”; “intermediary bank”; “payer bank”; “presenting bank”.§ 404.107
Separate office of a bank.§ 404.108
Time of receipt of items.§ 404.109
Delays.§ 404.110
Electronic presentment.§ 404.111
Statute of limitations.§ 404.203
Effect of instructions.Cite This Page — Counsel Stack
Bluebook (online)
Wisconsin § 404.501, Counsel Stack Legal Research, https://law.counselstack.com/statute/wi/404.501.