§12A-4-204. Methods of Sending and Presenting; Sending Directly to
152 words·~1 min read·
/ok/title-12a-uniform-commercial-code/12a-4-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Payor Bank.
METHODS OF SENDING AND PRESENTING;
SENDING DIRECTLY TO PAYOR BANK
(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:
(1)An item directly to the payor bank;
(2)An item to a nonbank payor if authorized by its
transferor; and
(3)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. Laws 1961, p. 124, § 4-204; Laws 1991, c. 117, § 108, eff. Jan. 1, 1992.