70A-4-212 - Presentment of notice of item not payable by, through, or at bank -- Liability of drawer or indorser. - Utah Statutes

70A-4-212. Presentment of notice of item not payable by, through, or at bank --Liability of drawer or indorser.
(1) Unless otherwise instructed, a collecting bank may present an item not payable by,through, or at a bank by sending to the party to accept or pay a written notice that the bank holdsthe item for acceptance or payment. The notice must be sent in time to be received on or beforethe day when presentment is due and the bank must meet any requirement of the party to acceptor pay under Section 70A-3-501 by the close of the bank's next banking day after it knows of therequirement.
(2) If presentment is made by notice and payment, acceptance, or request for compliancewith a requirement under Section 70A-3-501 is received by the close of business on the day aftermaturity, or in the case of demand items, by the close of business on the third banking day afternotice was sent, the presenting bank may treat the item as dishonored and charge any drawer orindorser by sending it notice of the facts.

Repealed and Re-enacted by Chapter 237, 1993 General Session