30-4-204. 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 any relevant instructions, the nature of the item, the number of those items on hand, and the cost of collection involved and the method generally used by it or others to present those items.
(2) A collecting bank may send:
(a) an item directly to the payor bank;
(b) an item to any nonbank payor if authorized by its transferor; and
(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.
(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.
History: En. Sec. 4-204, Ch. 264, L. 1963; R.C.M. 1947, 87A-4-204; amd. Sec. 167, Ch. 410, L. 1991.
Structure Montana Code Annotated
Chapter 4. Uniform Commercial Code Bank Deposits and Collections
Part 2. Collection of Items Depositary and Collecting Banks
30-4-202. Responsibility for collection or return -- when action timely
30-4-203. Effect of instructions
30-4-204. Methods of sending and presenting -- sending directly to payor bank
30-4-205. Depositary bank holder of unindorsed item
30-4-206. Transfer between banks
30-4-208. Security interest of collecting bank in items, accompanying documents, and proceeds
30-4-209. When bank gives value for purposes of holder in due course
30-4-211. Medium and time of settlement by bank
30-4-212. Right of charge-back or refund -- liability of collecting bank -- return of item
30-4-214. Insolvency and preference