§ 34.1-4-204 — Methods of sending and presenting; sending directly to payor bank

Wyoming § 34.1-4-204

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

Text

(a) A collecting bank shall send items by a reasonably
prompt method, taking into consideration relevant instructions,
the nature of the item, the number of those items on hand, the
cost of collection involved, and the method generally used by it
or others to present those items.
(b) A collecting bank may send:
(i) An item directly to the payor bank;
(ii) An item to a nonbank payor if authorized by its
transferor; and
(iii) An item other than documentary drafts to a
nonbank payor, if authorized by federal reserve regulation or
operating circular, clearing-house rule, or the like.
(c) Presentment may be made by a presenting bank at a
place where the payor bank or other payor has requested that
presentment be made.