{"data":{"id":"us-ok/okla.-stat.-tit.-12a-12a-4-202","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12A, § 12A-4-202","heading":"Responsibility for Collection or Return; When Action","body":"Timely.\n\nRESPONSIBILITY FOR COLLECTION\n\nOR RETURN; WHEN ACTION TIMELY\n\n(a) A collecting bank must exercise ordinary care in:\n\n(1) Presenting an item or sending it for presentment;\n\n(2) Sending notice of dishonor or nonpayment or returning\n\nan item other than a documentary draft to the bank's\n\ntransferor after learning that the item has not been\n\npaid or accepted, as the case may be;\n\n(3) Settling for an item when the bank receives final\n\nsettlement; and\n\n(4) Notifying its transferor of any loss or delay in\n\ntransit within a reasonable time after discovery\n\nthereof.\n\n(b) A collecting bank exercises ordinary care under subsection\n\n(a) of this section by taking proper action before its midnight\n\ndeadline following receipt of an item, notice, or settlement.\n\nTaking proper action within a reasonably longer time may constitute\n\nthe exercise of ordinary care, but the bank has the burden of\n\nestablishing timeliness.\n\n(c) Subject to paragraph (1) of subsection (a) of this section,\n\na bank is not liable for the insolvency, neglect, misconduct,\n\nmistake or default of another bank or person or for loss or\n\ndestruction of an item in the possession of others or in transit.","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":"264f54c9d8efe3e00bc6cdaab0451488ab0d25a95530d4ea65876529b050acb3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12a-12a-4-201","next":"us-ok/okla.-stat.-tit.-12a-12a-4-203"},"notice":"GroundRules: Original legal text. Not legal advice."}