Current as of April 21, 2021 | Updated by FindLaw Staff
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A bank that takes a documentary draft for collection must 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, must seasonably notify its customer of this fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.04.501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor - last updated April 21, 2021 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-04-501.html
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