400.4-212. Presentment by notice of item not payable by, through, or at bank--liability of drawer or endorser. - Missouri Statutes

Presentment by notice of item not payable by, through, or atbank--liability of drawer or endorser.

400.4-212. (a) Unless otherwise instructed, a collectingbank may present an item not payable by, through, or at a bank bysending to the party to accept or pay a written notice that thebank holds the item for acceptance or payment. The notice mustbe sent in time to be received on or before the day whenpresentment is due and the bank must meet any requirement of theparty to accept or pay under Section 400.3-501 by the close ofthe bank's next banking day after it knows of the requirement.

(b) If presentment is made by notice and payment,acceptance or request for compliance with a requirement underSection 400.3-501 is not received by the close of business on theday after maturity or in the case of demand items, by the closeof business on the third banking day after notice was sent, thepresenting bank may treat the item as dishonored and charge anysecondary party by sending him notice of the facts.

(L. 1992 S.B. 448)

*No continuity with § 400.4-212 as repealed by L. 1992 S.B. 448.