N.D. Cent. Code § 41-04-16
(4-204) Methods of sending and presenting - Sending directly to payor bank
Redline — December 1, 2021 → current.View current text →
Current — January 1, 2022
As of December 1, 2021
(1) A collecting bank shall send items by a reasonably prompt method taking into consideration any relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved, and the method generally used by it or others to present those items.
(1) A collecting bank shall send items by a reasonably prompt method taking into consideration any relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved, and the method generally used by it or others to present those items.
(2) A collecting bank may send: An item directly to the payor bank.
(2) A collecting bank may send: An item directly to the payor bank.
(3) An item to any nonbank payor if authorized by its transferor.
(3) An item to any nonbank payor if authorized by its transferor.
(4) An item other than a documentary draft to a nonbank payor, if authorized by federal reserve regulation or operating circular, clearinghouse rule, or the like.
(4) An item other than a documentary draft to a nonbank payor, if authorized by federal reserve regulation or operating circular, clearinghouse rule, or the like.
(5) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.
(5) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.
(6) Section 3-501(b) provides where presentment may be made. This provision is expressly subject to Article 4. Section 4-204(c) specifically approves presentment by a presenting bank at any place requested by the payor bank or other payor. The time when a check is received by a payor bank for presentment is governed by Regulation CC Section 229.36(b).
Official source: North Dakota Legislative Branch. Reproduced from public-domain North Dakota statutes; confirm against the official source for the current text. Not legal advice.