554.4501 Handling of documentary drafts — duty to send for presentment and to notify customer of dishonor. 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 beenpaid or accepted in due course, shall seasonably notify its customer of the fact even thoughit may have discounted or bought the draft or extended credit available for withdrawal as ofright. [C66, 71, 73, 75, 77, 79, 81, §554.4501]94 Acts, ch 1167, §113, 122 Sat Dec 23 01:57:32 2023 Iowa Code 2024, Section 554.4501 (24, 0)
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