Okla. Stat. tit. 12A, § 12A-3-503
This is the official text of Okla. Stat. tit. 12A, § 12A-3-503, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Notice of Dishonor
Official statutory text
NOTICE OF DISHONOR
(a) The obligation of an indorser stated in subsection (a) of
Section 3-415 of this title and the obligation of a drawer stated in
subsection (d) of Section 3-414 of this title may not be enforced
unless (i) the indorsers or drawer is given notice of dishonor of
the instrument complying with this section or (ii) notice of
dishonor is excused under subsection (b) of Section 3-504 of this
title.
(b) Notice of dishonor may be given by any person; may be given
by any commercially reasonable means, including an oral, written, or
electronic communication; and is sufficient if it reasonably
identifies the instrument and indicates that the instrument has been
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 322
dishonored or has not been paid or accepted. Return of an
instrument given to a bank for collection is sufficient notice of
dishonor.
(c) Subject to subsection (c) of Section 3-504 of this title,
with respect to an instrument taken for collection by a collecting
bank, notice of dishonor must be given (i) by the bank before
midnight of the next banking day following the banking day on which
the bank receives notice of dishonor of the instrument, or (ii) by
any other person within thirty (30) days following the day on which
the person receives notice of dishonor. With respect to any other
instrument, notice of dishonor must be given within thirty (30) days
following the day on which dishonor occurs.
(a) The obligation of an indorser stated in subsection (a) of
Section 3-415 of this title and the obligation of a drawer stated in
subsection (d) of Section 3-414 of this title may not be enforced
unless (i) the indorsers or drawer is given notice of dishonor of
the instrument complying with this section or (ii) notice of
dishonor is excused under subsection (b) of Section 3-504 of this
title.
(b) Notice of dishonor may be given by any person; may be given
by any commercially reasonable means, including an oral, written, or
electronic communication; and is sufficient if it reasonably
identifies the instrument and indicates that the instrument has been
Oklahoma Statutes - Title 12A. Uniform Commercial Code Page 322
dishonored or has not been paid or accepted. Return of an
instrument given to a bank for collection is sufficient notice of
dishonor.
(c) Subject to subsection (c) of Section 3-504 of this title,
with respect to an instrument taken for collection by a collecting
bank, notice of dishonor must be given (i) by the bank before
midnight of the next banking day following the banking day on which
the bank receives notice of dishonor of the instrument, or (ii) by
any other person within thirty (30) days following the day on which
the person receives notice of dishonor. With respect to any other
instrument, notice of dishonor must be given within thirty (30) days
following the day on which dishonor occurs.
Status: in_force · Read it on the official government site
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