MS 1990 [Renumbered
336.4-212 PRESENTMENT BY NOTICE OF ITEM NOT PAYABLE BY, THROUGH, OR
AT BANK; LIABILITY OF DRAWER OR ENDORSER.
(a) 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 record providing notice that the
bank holds the item for acceptance or payment. The notice must be sent in time to be received
on or before the day when presentment is due and the bank must meet any requirement of the
party to accept or pay under section
by the close of the bank's next banking day after it
knows of the requirement.
(b) If presentment is made by notice and payment, acceptance, or request for compliance
with a requirement under section
is not received by the close of business on the day
after maturity or, in the case of demand items, by the close of business on the third banking day
after notice was sent, the presenting bank may treat the item as dishonored and charge any drawer
or endorser by sending it notice of the facts.
History: 1965 c 811 s 336.4-210; 1992 c 565 s 94; 2003 c 81 art 2 s 4