Skip to Navigation | Skip to Main Content | Skip to Site Map

MyFloridaHouse.gov | Mobile Site

Senate Tracker: Sign Up | Login

The Florida Senate

2002 Florida Statutes

SECTION 501
Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
Section 674.501, Florida Statutes 2002

674.501  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.--s. 1, ch. 65-254; s. 45, ch. 92-82.

Note.--s. 4-501, U.C.C.