Utah Code § 70A-4-501

Current with legislation effective through 5/2/2024
Section 70A-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.

Utah Code § 70A-4-501

Amended by Chapter 237, 1993 General Session