A bank that takes a documenatary 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.
Ohio Rev. Code Ann. § 1304.37
Handling of documentary drafts - duty to send for presentment and to notify customer of dishonor - UCC 4-501
Effective: August 19, 1994; Latest Legislation: Senate Bill 147 - 120th General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.