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Can you summarize NVRS 104.4212?
Uniform Commercial CodeOriginal Articles > Presentment by notice of item not payable by, through or at bank; liability of drawer or endorser.
Short Summary
This legal provision, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs the presentment of items that are not payable by, through, or at a bank. It allows a collecting bank to present such items by sending a notice to the party to accept or pay, informing them that the bank holds the item for acceptance or payment. The notice must be sent in a timely manner, meeting any requirements set by the party to accept or pay. If presentment is made by notice and payment, acceptance, or request for compliance is not received by the specified deadlines, the presenting bank may treat the item as dishonored and charge any drawer or endorser by sending them notice of the facts. This provision was added to the Nevada Revised Statutes in 1965 and has since been amended in 1993 and 2005.
Whom does it apply to?
Collecting banks, parties to accept or pay
What does it govern?
Presentment of items not payable by, through or at a bank
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada