336.4-110 ELECTRONIC PRESENTMENT.
(a) "Agreement for electronic presentment" means an agreement, clearinghouse rule, or
Federal Reserve regulation or operating circular, providing that presentment of an item may be
made by transmission of an image of an item or information describing the item ("presentment
notice") rather than delivery of the item itself. The agreement may provide for procedures
governing retention, presentment, payment, dishonor, and other matters concerning items subject
to the agreement.
(b) Presentment of an item pursuant to an agreement for presentment is made when the
presentment notice is received.
(c) If presentment is made by presentment notice, a reference to "item" or "check" in this
article means the presentment notice unless the context otherwise indicates.
History: 1992 c 565 s 81