HRS 0490-0004-0302 ANNOTATIONS

Prior Uniform Statutory Provision: None; but see American Bankers Association Model Deferred Posting Statute.

Under Section 4-301, time limits are prescribed within which a payor bank must take action if it receives an item payable by it. Section 4-302 states the rights of the customer if the payor bank fails to take the action required within the time limits prescribed.

Cross References:

Section 4-301.

Definitional Cross References:

"Acceptance". Section 3-410.

"Banking day". Section 4-104.

"Customer". Section 4-104.

"Depositary bank". Section 4-105.

"Documentary draft". Section 4-104.

"Item". Section 4-104.

"Midnight deadline". Section 4-104.

"Notice of dishonor". Section 3-508.

"Payor bank". Section 4-105.

"Properly payable". Section 4-104.

"Settle". Section 4-104.