{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-3-502","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-3-502","heading":"Dishonor","body":"DISHONOR\n\n(a) Dishonor of a note is governed by the following rules:\n\n(1) If the note is payable on demand, the note is\n\ndishonored if presentment is duly made to the maker\n\nand the note is not paid on the day of presentment;\n\n(2) If the note is not payable on demand and is payable at\n\nor through a bank or the terms of the note require\n\npresentment, the note is dishonored if presentment is\n\nduly made and the note is not paid on the day it\n\nbecomes payable or the day of presentment, whichever\n\nis later; and\n\n(3) If the note is not payable on demand and paragraph (2)\n\nof this subsection does not apply, the note is\n\ndishonored if it is not paid on the day it becomes\n\npayable.\n\n(b) Dishonor of an unaccepted draft other than a documentary\n\ndraft is governed by the following rules:\n\n(1) If a check is duly presented for payment to the payor\n\nbank otherwise than for immediate payment over the\n\ncounter, the check is dishonored if the payor bank\n\nmakes timely return of the check or sends timely\n\nnotice of dishonor or nonpayment under Section 4-301\n\nor 4-302 of this title, or becomes accountable for the\n\namount of the check under Section 4-302 of this title;\n\n(2) If a draft is payable on demand and paragraph (1) of\n\nthis subsection does not apply, the draft is\n\ndishonored if presentment for payment is duly made to\n\nthe drawee and the draft is not paid on the day of\n\npresentment;\n\n(3) If a draft is payable on a date stated in the draft,\n\nthe draft is dishonored if (i) presentment for payment\n\nis duly made to the drawee and payment is not made on\n\nthe day the draft becomes payable or the day of\n\npresentment, whichever is later, or (ii) presentment\n\nfor acceptance is duly made before the day the draft\n\nbecomes payable and the draft is not accepted on the\n\nday of presentment; and\n\n(4) If a draft is payable on elapse of a period of time\n\nafter sight or acceptance, the draft is dishonored if\n\npresentment for acceptance is duly made and the draft\n\nis not accepted on the day of presentment.\n\n(c) Dishonor of an unaccepted documentary draft occurs\n\naccording to the rules stated in paragraphs (2), (3) and (4) of\n\nsubsection (b) of this section, except that payment or acceptance\n\nmay be delayed without dishonor until no later than the close of the\n\nthird business day of the drawee following the day on which payment\n\nor acceptance is required by those paragraphs.\n\n(d) Dishonor of an accepted draft is governed by the following\n\nrules:\n\n(1) If the draft is payable on demand, the draft is\n\ndishonored if presentment for payment is duly made to\n\nthe acceptor and the draft is not paid on the day of\n\npresentment; and\n\n(2) If the draft is not payable on demand, the draft is\n\ndishonored if presentment for payment is duly made to\n\nthe acceptor and payment is not made on the day it\n\nbecomes payable or the day of presentment, whichever\n\nis later.\n\n(e) In any case in which presentment is otherwise required for\n\ndishonor under this section and presentment is excused under Section\n\n3-504 of this title, dishonor occurs without presentment if the\n\ninstrument is not duly accepted or paid.\n\n(f) If a draft is dishonored because timely acceptance of the\n\ndraft was not made and the person entitled to demand acceptance\n\nconsents to a late acceptance, from the time of acceptance the draft\n\nis treated as never having been dishonored.","path":["OK Code","Title 12A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"51cada4a0e275903febf96ae0f4c10d2a53c794c0f70e6351f2dc4e71ad70415","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-3-501","next":"us-ok/okla.-stat.-tit.-12a-12a-3-503"},"notice":"GroundRules: Original legal text. Not legal advice."}