§ 4109. Delays.
(a) Two-banking-day delay permitted in effort to secure payment.--Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specified item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify or extend time limits imposed or permitted by this title for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.
(b) Delay excused by conditions beyond control of bank.-- Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this title or by instructions is excused if the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment or other circumstances beyond the control of the bank and the bank exercises such diligence as the circumstances require. (July 9, 1992, P.L.507, No.97, eff. one year)
1992 Amendment. Act 97 amended and renumbered former section 4108 to present section 4109 and deleted by amendment former section 4109.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 41 - General Provisions and Definitions
Section 4101 - Short title of division
Section 4103 - Variation by agreement; measure of damages; action constituting ordinary care
Section 4104 - Definitions and index of definitions
Section 4106 - Payable through or payable at bank; collecting bank
Section 4107 - Separate office of a bank
Section 4108 - Time of receipt of items