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Searching 2023-2024 Session

The Vermont Statutes Online

The Vermont Statutes Online have been updated to include the actions of the 2023 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.

Title 9A : Uniform Commercial Code

Article 004 : Bank Deposits and Collections

(Cite as: 9A V.S.A. § 4-204)
  • § 4—204. Methods of sending and presenting; sending directly to payor bank

    (a) 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.

    (b) A collecting bank may send:

    (1) an item directly to the payor bank;

    (2) an item to a nonbank payor if authorized by its transferor; and

    (3) 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.

    (c) Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made. (Added 1993, No. 158 (Adj. Sess.), § 13, eff. Jan. 1, 1995.)