A bank that takes a documentary 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.
ORS 74.5010
Known as the Uniform Commercial Code
The act spans §§ 74–74 (49 sections).
1961 c.726 §74.5010; 1993 c.545 §110
Official source: Oregon State Legislature. Reproduced from public-domain Oregon statutes; confirm against the official source for the current text. Not legal advice.