Okla. Stat. tit. 12A, § 12A-4-202: Responsibility for Collection or Return; When Action

Timely.

RESPONSIBILITY FOR COLLECTION

OR RETURN; WHEN ACTION TIMELY

(a) A collecting bank must exercise ordinary care in:

(1) Presenting an item or sending it for presentment;

(2) Sending notice of dishonor or nonpayment or returning

an item other than a documentary draft to the bank's

transferor after learning that the item has not been

paid or accepted, as the case may be;

(3) Settling for an item when the bank receives final

settlement; and

(4) Notifying its transferor of any loss or delay in

transit within a reasonable time after discovery

thereof.

(b) A collecting bank exercises ordinary care under subsection

(a) of this section by taking proper action before its midnight

deadline following receipt of an item, notice, or settlement.

Taking proper action within a reasonably longer time may constitute

the exercise of ordinary care, but the bank has the burden of

establishing timeliness.

(c) Subject to paragraph (1) of subsection (a) of this section,

a bank is not liable for the insolvency, neglect, misconduct,

mistake or default of another bank or person or for loss or

destruction of an item in the possession of others or in transit.