{"data":{"id":"us-wi/wis.-stat.-404.501","jurisdiction":"us-wi","citation":"Wis. Stat. § 404.501","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.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 404 Uniform Commercial Code — Bank Deposits And Collections","SUBCHAPTER V COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/404.501","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"c904f0689ab08a5035ca067756febe17e0773274a2ccfc4913295e2376a1a83e","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-404.407","next":"us-wi/wis.-stat.-404.502"},"notice":"GroundRules: Original legal text. Not legal advice."}