New York Laws
Part 5 - Presentment, Notice of Dishonor and Protest
3-506 - Time Allowed for Acceptance or Payment.

(1) Acceptance may be deferred without dishonor until the close of the
next business day following presentment. The holder may also in a good
faith effort to obtain acceptance and without either dishonor of the
instrument or discharge of secondary parties allow postponement of
acceptance for an additional business day.
(2) Except as a longer time is allowed in the case of documentary
drafts drawn under a letter of credit, and unless an earlier time is
agreed to by the party to pay, payment of an instrument may be deferred
without dishonor pending reasonable examination to determine whether it
is properly payable, but payment must be made in any event before the
close of business on the day of presentment.

Structure New York Laws