West Virginia Code 46-4-212 – Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser
(a) Unless otherwise instructed, a collecting bank may present an item not payable by, through, or at a bank by sending to the party to accept or pay a written notice that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment is due and the bank must meet any requirement of the party to accept or pay under section 3-501 by the close of the bank's next banking day after it knows of the requirement.
Terms Used In West Virginia Code 46-4-212
- Banking day: means the part of a day on which a bank is open to the public for carrying on substantially all of its banking functions. See West Virginia Code 46-4-104
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See West Virginia Code 46-4-104
(b) If presentment is made by notice and payment, acceptance, or request for compliance with a requirement under section 3-501 is not received by the close of business on the day after maturity or in the case of demand items by the close of business on the third banking day after notice was sent, the presenting bank may treat the item as dishonored and charge any drawer or indorser by sending it notice of the facts.