KRS 355.4-501: Handling of documentary drafts -- Duty to send for presentment and to

notify customer of dishonor.

A bank that takes a documentary draft for collection shall present or send the draft and

accompanying documents for presentment and, upon learning tha t the draft has not been

paid or accepted in due course, shall seasonably notify its customer of the fact even

though it may have discounted or bought the draft or extended credit available for

withdrawal as of right.