New Jersey § 12a:4-212

§ 12a:4-212.

a. Unless otherwise instructed, a collecting bank may present an item not payable

by, through, or at a bank by sending to the party to accept or pay a written notice

that the bank holds the item for acceptance or payment. The notice must be sent in time to be received on or before the day when presentment

is due and the bank must meet any requirement of the party to accept or pay under

12A:3-501 by the close of the bank's next banking day after it knows of the requirement. b. If presentment is made by notice and payment, acceptance, or request for compliance

with a requirement under 12A:3-501 is not received by the close of business on the

day after maturity or, in the case of demand items, by the close of business on the

third banking day after notice was sent, the presenting bank may treat the item as

dishonored and charge any drawer or indorser by sending it notice of the facts.