| PREVIOUS SECTION | Go back to sections | Go back to the chapter | Go back to the N.J. Statutes homepage | NEXT SECTION |
New Jersey Statutes, Title: 12A, COMMERCIAL TRANSACTIONS
Chapter 4:
Section: 12A:4-501: Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
L.1995,c.28,s.2.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 12a:4-501 (if available):
Court decisions that cite this statute:
CLICK HERE.