KRS 355.3-504: Excused presentment and notice of dishonor.

(1) Presentment for payment or acceptance of an instrument is excused if:

(a) The person entitled to present the instrument cannot with reasonable diligence

make presentment;

(b) The maker or acceptor has repudiated an obligation to pay the instrument or is

dead or in insolvency proceedings;

(c) By the terms of the instrument presentment is not necessary to enforce the

obligation of indorsers or the drawer;

(d) The drawer or indorser whose obligation is being enforced has waived

presentment or otherwise has no reason to expect or right to require that the

instrument be paid or accepted; or

(e) The drawer instructed the drawee not to pay or accept the draft or the drawee

was not obligated to the drawer to pay the draft.

(2) Notice of dishonor is excused if:

(a) By the terms of the instrument notice of dishonor is not necessary to enforce

the obligation of a party to pay the instrument; or

(b) The party whose obligation is being enforced waived notice of dishonor.

A waiver of presentment is also a waiver of notice of dishonor.

(3) Delay in giving notice of dishonor is excused if the delay was caused by

circumstances beyond the control of the person giving the notice and the person

giving the notice exercised reasonable diligence after the cause of the delay ceased

to operate.