§ 34.1-4-109 — Delays

Wyoming § 34.1-4-109

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 4: BANK DEPOSITS AND COLLECTIONS

Text

(a) 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
(2) additional banking days without discharge of drawers or
indorsers or liability to its transferor or a prior party.
(b) Delay by a collecting bank or payor bank beyond time
limits prescribed or permitted by this act or by instructions is
excused if (1) 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, and (2)
the bank exercises such diligence as the circumstances require.