Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“A presenting bank must deliver documents to the drawee under the stated timing rule, and after dishonor it must act diligently, notify its transferor, and request instructions unless it uses a referee in case of need.”
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02
How the instrument operates
- 01
Start with the recorded version
Undated source snapshot. The date shown identifies this source expression and should not be treated as proof that no later change exists.
- 02
Locate the controlling provision
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- 03
Read conditions and exceptions together
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- 04
Verify currency and official wording
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03
Research entry points
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A presenting bank must deliver documents to the drawee under the stated timing rule, and after dishonor it must act diligently, notify its transferor, and request instructions unless it uses a referee in case of need.
Section 10:4-503
04
Source and current-law status
Source record view
Source record from legis.la.gov · Undated source snapshot
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