The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
47-4204 - Methods of sending and presenting; sending directly to payor bank
47-4204. Methods of sending and presenting; sending directly to payor bank
A. A collecting bank shall send items by a reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the number of those items on hand, the cost of collection involved and the method generally used by it or others to present those items.
B. A collecting bank may send:
1. An item directly to the payor bank;
2. An item to a non-bank payor if authorized by its transferor; and
3. An item other than documentary drafts to a non-bank payor, if authorized by federal reserve regulation or operating circular, clearing-house rule or the like.
C. Presentment may be made by a presenting bank at a place where the payor bank or other payor has requested that presentment be made.