The Vermont Statutes Online
The Statutes below include the actions of the 2025 session of the General Assembly.
NOTE: The Vermont Statutes Online is an unofficial copy of the Vermont Statutes Annotated that is provided as a convenience.
(Cite as: 9A V.S.A. § 4-109)
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§ 4—109. Delays
(a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment
of a specific item drawn on a payor other than a bank, and with or without the approval
of any person involved, may waive, modify, or extend time limits imposed or permitted
by this title for a period not exceeding two additional banking days without discharge
of drawers or indorsers or liability to its transferor or a prior party.
(b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted
by this title or by instructions is excused if (i) the delay is caused by interruption
of communication or computer facilities, suspension of payments by another bank, war,
emergency conditions, failure of equipment, or other circumstances beyond the control
of the bank, and (ii) the bank exercises such diligence as the circumstances require. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)