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1001 — Puerto Rico Law | CourtGPT
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  4. Title Nineteen - Negotiable Instruments (§§ 1-24 — 2409)/
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  6. Chapter 45 - Bank Deposits and Collections Sub/
  7. Subchapter V/
  8. 1001
Puerto Rico Legal Code

1001

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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.\nHistory —Aug. 17, 1995, No. 208, § 3-501; Aug. 31, 1996, No. 176, § 3.