KRS 355.3-501: Presentment.

(1) "Presentment" means a demand made by or on behalf of a person entitled to enforce

an instrument:

(a) To pay the instrument made to the drawee or a party obliged to pay the

instrument or, in the case of a note or accepted draft payable at a bank, to the

bank; or

(b) To accept a draft made to the drawee.

(2) The following rules are subject to Article 4 of this chapter, agreement of the parties,

and clearing-house rules and the like:

(a) Presentment may be made at the place of payment of the instrument and mus t

be made at the place of payment if the instrument is payable at a bank in the

United States; may be made by any commercially reasonable means, including

an oral, written, or electronic communication; is effective when the demand

for payment or acceptance is received by the person to whom presentment is

made; and is effective if made to any one of two (2) or more makers,

acceptors, drawees, or other payors.

(b) Upon demand of the person to whom presentment is made, the person making

presentment must:

1. Exhibit the instrument;

2. Give reasonable identification and, if presentment is made on behalf of

another person, reasonable evidence of authority to do so; and

3. Sign a receipt on the instrument for any payment made or surrender the

instrument if full payment is made.

(c) Without dishonoring the instrument, the party to whom presentment is made

may:

1. Return the instrument for lack of a necessary indorsement; or

2. Refuse payment or acceptance for failure of the presentment to comply

with the terms of the instrument, an agreement of the parties, or other

applicable law or rule.

(d) The party to whom presentment is made may treat presentment as occurring

on the next business day after the day of presentment if the party to whom

presentment is made has established a cutoff hour not earlier than 2 p.m. for

the receipt and processing of instruments presented for payment or acceptance

and presentment is made after the cutoff hour.