Texas Business & Commerce Code
§ 3.501 — PRESENTMENT
BC § 3.501Title 1. UNIFORM COMMERCIAL CODE · Ch. 3. NEGOTIABLE INSTRUMENTS · Art. E. DISHONOR
Statute text
View on source(a)"Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument to:
(1)pay the instrument made to the drawee or a party obliged to pay the instrument or, in the case of a note or accepted draft payable at a bank, to the bank; or
(2)accept a draft made to the drawee.
(b)The following rules are subject to Chapter 4, agreement of the parties, and clearing-house rules and the like:
(1)Presentment may be made at the place of payment of the instrument and must be made at the place of payment if the instrument is payable at a bank in the United States. Presentment may be made by any commercially reasonable means, including an oral, written, or electronic communication. Presentment is effective:
(A)when the demand for payment or acceptance is received by the person to whom presentment is made; and
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Legislative history
Amended by Acts 1995, 74th Leg., ch. 921, Sec. 1, eff. Jan. 1, 1996.