1.A collecting bank shall send items by a reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the number of such items on hand, the cost of collection involved, and the method generally used by it or others to present such items. 2.A collecting bank may send: (a)An item directly to the payor bank; (b)An item to a nonbank payor if authorized by its transferor; and (c)An item other than documentary drafts to a nonbank payor, if authorized by Federal Reserve regulation or operating circular, clearinghouse rule or the like.

If a customer delivers an item to a depositary bank for collection: 1.The depositary bank becomes a holder of the item at the time it receives the item for collection if the customer at the time of delivery was a holder of the item, whether or not the customer endorses the item, and, if the bank satisfies the other requirements of NRS 104.3302 , it is a holder in due course; and 2.

Any agreed method which identifies the transferor bank is sufficient for the items further transfer to another bank. (Added to NRS by 1965, 844)

This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, governs transfer warranties in commercial transactions. It outlines the warranties made by a customer or collecting bank when transferring an item and receiving settlement or other consideration. The warranties include the warrantor being a person entitled to enforce the item, all signatures on the item being authentic and authorized, the item not being altered, and the item not being subject to a defense or claim in recoupment.

This legal document governs presentment warranties in commercial transactions. It applies to drawees, warrantors, and persons making payment. The document establishes warranties that the person obtaining payment or acceptance of an unaccepted draft warrants to the drawee. These warranties include being entitled to enforce the draft, no alteration of the draft, no knowledge of unauthorized signature, and authorization for remotely-created items. The drawee has the right to recover damages for breach of warranty, including the amount paid, expenses, and loss of interest.

1.A person who encodes information on or with respect to an item after issue, warrants to any subsequent collecting bank and to the payor bank or other payor that the information is correctly encoded. If the customer of a depositary bank encodes, that bank also makes the warranty. 2.A person who undertakes to retain an item pursuant to an agreement for electronic presentment warrants to any subsequent collecting bank and to the payor bank or other payor that retention and presentment of the item comply with the agreement.

This legal document, governed by the Nevada Revised Statutes under the Uniform Commercial CodeOriginal Articles, establishes the security interest of a collecting bank in items, accompanying documents, and proceeds. A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either in various scenarios, such as when credit has been withdrawn or applied, when credit has been given for the item, or when an advance has been made on the item.

For purposes of determining its status as a holder in due course, a bank has given value to the extent that it has a security interest in an item if the bank otherwise complies with the requirements of NRS 104.3302 on what constitutes a holder in due course. (Added to NRS by 1965, 846; A 1993, 1306)

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.

This legal document governs the medium and time of settlement by a bank. It applies to banks and persons involved in settlement transactions. The document states that the medium and time of settlement may be prescribed by Federal Reserve regulations, clearinghouse rules, or agreements. In the absence of such prescription, the medium of settlement is cash or credit to an account in a Federal Reserve bank or specified by the person receiving settlement.