Florida Statute 674.501 - Full Text and Legal Analysis

The 2025 Florida Statutes

Title XXXIX
COMMERCIAL RELATIONS

Chapter 674
UNIFORM COMMERCIAL CODE: BANK DEPOSITS AND COLLECTIONS

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F.S. 674.501

674.501 Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.—A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.

History.—s. 1, ch. 65-254; s. 45, ch. 92-82.

Note.—s. 4-501, U.C.C.

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Amendments to 674.501

Annotations, Discussions, Cases:

Cases Citing Statute 674.501

Total Results: 1

Gathercrest Ltd. v. First American Bank & Trust

649 F. Supp. 106, 1985 U.S. Dist. LEXIS 18147

District Court, M.D. Florida | Filed: Jul 8, 1985 | Docket: 1198821

Cited 9 times | Published

seasonably notify plaintiffs of dishonor, Fla.Stat. § 674.501, and to use diligence and good faith to ascertain