Maine Revised Statutes
Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS
11 §4-204. Methods of sending and presenting; sending directly to payor bank

§4-204. Methods of sending and presenting; sending directly to payor bank
(1).  A collecting bank shall send items by a reasonably prompt method, taking into consideration 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.  
[PL 1993, c. 293, Pt. B, §21 (AMD).]
(2).  A collecting bank may send:  
(a). An item directly to the payor bank;   [PL 1993, c. 293, Pt. B, §21 (AMD).]
(b). An item to a nonbank payor if authorized by its transferor; and   [PL 1993, c. 293, Pt. B, §21 (AMD).]
(c). An item other than documentary drafts to a nonbank payor, if authorized by Federal Reserve regulation or operating circular, clearinghouse rule or the like.   [PL 1993, c. 293, Pt. B, §21 (AMD).]
[PL 1993, c. 293, Pt. B, §21 (AMD).]
(3).  Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.  
[PL 1993, c. 293, Pt. B, §21 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B21 (AMD).

Structure Maine Revised Statutes

Maine Revised Statutes

TITLE 11: UNIFORM COMMERCIAL CODE

Article 4: BANK DEPOSITS AND COLLECTIONS

Part 2: COLLECTION OF ITEMS; DEPOSITARY AND COLLECTING BANKS

11 §4-201. Status of collecting bank as agent and provisional status of credits; applicability of Article; item indorsed "pay any bank"

11 §4-202. Responsibility for collection or return; when action timely

11 §4-203. Effect of instructions

11 §4-204. Methods of sending and presenting; sending directly to payor bank

11 §4-205. Depositary bank holder of unindorsed item

11 §4-206. Transfer between banks

11 §4-207. Warranties of customer and collecting bank on transfer or presentment of items; time for claims (REPEALED)

11 §4-207-A. Transfer warranties

11 §4-207-B. Presentment warranties

11 §4-207-C. Encoding and retention warranties

11 §4-208. Security interest of collecting bank in items, accompanying documents and proceeds

11 §4-209. When bank gives value for purposes of holder in due course

11 §4-210. Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser

11 §4-211. Media of remittance; provisional and final settlement in remittance cases (REPEALED)

11 §4-211-A. Medium and time of settlement by bank

11 §4-212. Right of charge-back or refund; liability of collecting bank; return of item

11 §4-213. Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal

11 §4-214. Insolvency and preference