Oregon Revised Statutes Chapter 74 § 74.5010 — Handling of documentary drafts; duty to send for presentment and to notify
Oregon Revised Statutes Chapter 74 ·
Oregon Code § 74.5010·Enacted ·Last updated March 01, 2026
Statute Text
Handling of documentary drafts; duty to send for presentment and to notify
customer of dishonor.
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. [1961 c.726 §74.5010;
1993 c.545 §110]
Plain English Explanation
This Oregon statute addresses Handling of documentary drafts; duty to send for presentment and to notify
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 74.5010
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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