Mich. Comp. Laws § 440.4204
Collecting bank; methods of sending items; presentment.
Michigan · Michigan Compiled Laws — UNIFORM COMMERCIAL CODE (Act 174 of 1962) · Status: effective
Cite this
- Citation
- Mich. Comp. Laws § 440.4204, Collecting bank; methods of sending items; presentment, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1362019
- Permanent ID
ys:prov:1362019@1- SHA-256
e0d0982d374fba382060c511342657ca2900e4f5f38d4f0910665f0b7d8fdfe0
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(1) A collecting bank shall send items by a reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved, and the method generally used by it or others to present those items.
(2) A collecting bank may send:
(a) An item directly to the payor bank.
(b) An item to a nonbank payor if authorized by its transferor.
(c) An item other than documentary drafts to a nonbank payor, if authorized by federal reserve regulation or operating circular, clearing-house rule, or the like.
(3) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.