400.4-109. Delays. - Missouri Statutes

Delays.

400.4-109. (a) Unless otherwise instructed, a collectingbank in a good faith effort to secure payment of a specific itemdrawn on a payor other than a bank, and with or without theapproval of any person involved, may waive, modify or extend timelimits imposed or permitted by this chapter for a period notexceeding two additional banking days without discharge ofdrawers or endorsers or liability to its transferor or a priorparty.

(b) Delay by a collecting bank or payor bank beyond timelimits prescribed or permitted by this chapter or by instructionsis excused if (i) the delay is caused by interruption ofcommunication or computer facilities, suspension of payments byanother bank, war, emergency conditions, failure of equipment, orother circumstances beyond the control of the bank, and (ii) thebank exercises such diligence as the circumstances require.

(L. 1992 S.B. 448)

*No continuity with § 400.4-109 as repealed by L. 1992 S.B. 448.