{"data":{"id":"us-tx/tex.-business-commerce-code-4.501","jurisdiction":"us-tx","citation":"Tex. Business \u0026 Commerce Code § 4.501","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 shall 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, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.\nActs 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.","path":["BUSINESS AND COMMERCE CODE","TITLE 1. UNIFORM COMMERCIAL CODE","CHAPTER 4. BANK DEPOSITS AND COLLECTIONS","SUBCHAPTER E. COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BC/htm/BC.4.htm#4.501","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:56Z","sha256":"a9246f0554b44d61d62cc6aba54bcb02150f4dfe7873d76a47308bd51b5795f8","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-commerce-code-4.407","next":"us-tx/tex.-business-commerce-code-4.502"},"notice":"GroundRules: Original legal text. Not legal advice."}