N.Y. Uniform Commercial Code Law § 4-210: Presentment by Notice of Item Not Payable by, Through or at a Bank; Liability of Secondary Parties

Section 4--210. Presentment by Notice of Item Not Payable by, Through or

at a Bank; Liability of Secondary Parties.

(1) Unless otherwise instructed, a collecting bank may present an item

not payable by, through or at a bank by sending to the party to accept

or pay a written notice that the bank holds the item for acceptance or

payment. The notice must be sent in time to be received on or before the

day when presentment is due and the bank must meet any requirement of

the party to accept or pay under Section 3--505 by the close of the

bank's next banking day after it knows of the requirement.

(2) Where presentment is made by notice and neither honor nor request

for compliance with a requirement under Section 3--505 is received by

the close of business on the day after maturity or in the case of demand

items by the close of business on the third banking day after notice was

sent, the presenting bank may treat the item as dishonored and charge

any secondary party by sending him notice of the facts.