70A-4-109 - Delays. - Utah Statutes

70A-4-109. Delays.
(1) Unless otherwise instructed, a collecting bank in a good faith effort to secure paymentof a specific item drawn on a payor other than a bank, and with or without the approval of anyperson involved, may waive, modify, or extend time limits imposed or permitted by this act for aperiod not exceeding two additional banking days without discharge of drawers, indorsers, orliability to its transferor or a prior party.
(2) Delay by a collecting bank or payor bank beyond time limits prescribed or permittedby this chapter or by instructions is excused if:
(a) the delay is caused by interruption of communication or computer facilities,suspension of payments by another bank, war, emergency conditions, failure of equipment, orother circumstances beyond the control of the bank; or
(b) the bank exercises such diligence as the circumstances require.

Repealed and Re-enacted by Chapter 237, 1993 General Session