{"data":{"id":"us-ak/as-45.04.501","jurisdiction":"us-ak","citation":"AS 45.04.501","heading":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.","body":"A bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, must seasonably notify its customer of this fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.","path":["Title 45. Trade and Commerce.","Chapter 04. Bank Deposits and Collections.","Article 5. Collection of Documentary Drafts."],"source_url":"https://www.akleg.gov/basis/statutes.asp#45.04.501","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:19:44Z","sha256":"ab60a7df0af5afd671982042bb2b4eac45a3bfe9af5907ea8fcb33dc1bb91097","source_id":"us-ak","stale":false,"prev":"us-ak/as-45.04.407","next":"us-ak/as-45.04.502"},"notice":"GroundRules: Original legal text. Not legal advice."}