Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
336.4-501 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.
History: 1965 c 811 s 336.4-501; 1992 c 565 s 109
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.
History: 1965 c 811 s 336.4-501; 1992 c 565 s 109
Official Publication of the State of Minnesota
Revisor of Statutes