KRS 355.3-503: Notice of dishonor.

(1) The obligation of an indorser stated in KRS 355.3 -415(1) and the obligation of a

drawer stated in KRS 355.3-414(4) may not be enforced unless:

(a) The indorser or drawer is given notice of dishonor of the instrument

complying with this section; or

(b) Notice of dishonor is excused under KRS 355.3-504(2).

(2) Notice of dishonor may be given by any person; may be given by any commercially

reasonable means, including an oral, written, or electronic communication; and is

sufficient if it reasonably identifies t he instrument and indicates that the instrument

has been dishonored or has not been paid or accepted. Return of an instrument

given to a bank for collection is sufficient notice of dishonor.

(3) Subject to KRS 355.3 -504(3), with respect to an instrument ta ken for collection by

a collecting bank, notice of dishonor must be given:

(a) By the bank before midnight of the next banking day following the banking

day on which the bank receives notice of dishonor of the instrument; or

(b) By any other person within thirty (30) days following the day on which the

person receives notice of dishonor.

With respect to any other instrument, notice of dishonor must be given within thirty

(30) days following the day on which dishonor occurs.