Texas § BC.4.501 - HANDLING OF DOCUMENTARY DRAFTS

Full text of Texas The Texas Constitution § BC.4.501 — HANDLING OF DOCUMENTARY DRAFTS, with citation guidance and answers to common questions.

§ BC.4.501. HANDLING OF DOCUMENTARY DRAFTS

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. Acts 1967, 60th Leg., p. 2343, ch. 785, Sec. 1, eff. Sept. 1, 1967. Amended by Acts 1995, 74th Leg., ch. 921, Sec. 4, eff. Jan. 1, 1996.

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Frequently Asked Questions About Texas § BC.4.501

What does The Texas Constitution § BC.4.501 cover?

Section BC.4.501 ("HANDLING OF DOCUMENTARY DRAFTS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § BC.4.501?

A common citation format is "The Texas Constitution § BC.4.501" (Texas). 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 Texas law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.

How does Texas § BC.4.501 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.