Nevada § 104.4503 - Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
Full text of Nevada Nevada Revised Statutes § 104.4503 — Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need, with citation guidance and answers to common questions.
§ 104.4503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
Unless otherwise instructed and except as provided in article 5 a bank presenting
a documentary draft: 1. Must deliver the documents to the drawee on acceptance of the draft if it is payable
more than 3 days after presentment; otherwise, only on payment; and 2. Upon dishonor, either in the case of presentment for acceptance or presentment
for payment, may seek and follow instructions from any referee in case of need designated
in the draft or if the presenting bank does not choose to utilize the referee’s services
it must use diligence and good faith to ascertain the reason for dishonor, must notify
its transferor of the dishonor and of the results of its effort to ascertain the reasons
therefor and must request instructions. But the presenting bank is under no obligation with respect to goods represented by
the documents except to follow any reasonable instructions seasonably received; it
has a right to reimbursement for any expense incurred in following instructions and
to prepayment of or indemnity for such expenses.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 104.4503
What does Nevada Revised Statutes § 104.4503 cover?
Section 104.4503 ("Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 104.4503?
A common citation format is "Nevada Revised Statutes § 104.4503" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 104.4503 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.