Okla. Stat. tit. 12A, § 12A-4-302: Payor Bank's Responsibility for Late Return of Item

PAYOR BANK'S RESPONSIBILITY FOR LATE RETURN OF ITEM

(a) If an item is presented to and received by a payor bank,

the bank is accountable for the amount of:

(1) a demand item, other than a documentary draft, whether

properly payable or not, if the bank, in any case in

which it is not also the depositary bank, retains the

item beyond midnight of the banking day of receipt

without settling for it or, whether or not it is also

the depositary bank, does not pay or return the item

or send notice of dishonor until after its midnight

deadline; or

(2) any other properly payable item unless, within the

time allowed for acceptance or payment of that item,

the bank either accepts or pays the item or returns it

and accompanying documents.

(b) The liability of a payor bank to pay an item pursuant to

subsection (a) of this section is subject to defenses based on

breach of presentment warranty (Section 4-208 of this title) or

proof that the person seeking enforcement of the liability presented

or transferred the item for the purpose of defrauding the payor

bank.