- Alaska Statutes.
- Title 45. Trade and Commerce
- Chapter 4. Bank Deposits and Collections
- Section 212. Presentment By Notice of Item Not Payable By, Through, or at a Bank; Liability of Drawer or Endorser.
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AS 45.04.212. Presentment By Notice of Item Not Payable By, Through, or at a Bank; Liability of Drawer or Endorser.
- (a) Unless otherwise instructed, a collecting bank may present an item not payable by, through, or at a bank by sending to
the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be
sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the
party to accept or pay under AS 45.03.501
by the close of the bank's next banking day after it knows of the requirement.
- (b) If presentment is made by notice, and payment, acceptance, or request for compliance with a requirement under AS 45.03.501
is not received by the close of business on the day after maturity or, in the case of demand items, by the close of
business on the third banking day after notice was sent, the presenting bank may treat the item as dishonored and
charge a drawer or endorser by sending the drawer or endorser notice of the facts.
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