Professional statute overview
Enactment structure, operative effect and source provenance
01
Purpose and legislative effect
“A bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment, and must seasonably notify its customer if the draft is not paid or accepted in due course.”
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02
How the instrument operates
- 01
Start with the recorded version
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- 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 bank that takes a documentary draft for collection must present or send the draft and accompanying documents for presentment, and must seasonably notify its customer if the draft is not paid or accepted in due course.
Section 10:4-501
04
Source and current-law status
Source record view
Source record from legis.la.gov · Undated source snapshot
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