{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/8.4-501.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/8.4-501.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/8.4-501.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/8.4-501.html"}],"law_id":378199,"edition_id":2,"section_id":378199,"structure_id":53742,"section_number":"8.4-501","catch_line":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor","history":"1964, c. 219; 1992, c. 693.","full_text":"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.\n\n","order_by":null,"text":{"0":{"id":1410900,"text":"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.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":53742,"edition_id":2,"name":"Collection of Documentary Drafts","identifier":"5","label":"part","depth":2,"order_by":5,"parent_id":53737,"metadata":{"child_laws":4,"child_structures":0},"date_created":"2026-08-02 03:21:32","date_modified":"2026-08-02 12:28:33","permalink":{"id":1510171,"object_type":"structure","relational_id":53742,"identifier":"5","token":"8.4\/5","url":"\/8.4\/5\/","edition_id":2,"permalink":0,"preferred":1}},{"id":53737,"edition_id":2,"name":"Commercial Code \u2014 Bank Deposits and Collections","identifier":"8.4","label":"title","depth":1,"order_by":21,"parent_id":null,"metadata":{"child_laws":45,"child_structures":5},"date_created":"2026-08-02 03:21:27","date_modified":"2026-08-02 12:28:32","permalink":{"id":1509997,"object_type":"structure","relational_id":53737,"identifier":"8.4","token":"8.4","url":"\/8.4\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":378199,"structure_id":53742,"section_number":"8.4-501","catch_line":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor","url":"\/8.4-501\/","token":"8.4\/5\/8.4-501","metadata":false},{"id":378200,"structure_id":53742,"section_number":"8.4-502","catch_line":"Presentment of \"on arrival\" drafts","url":"\/8.4-502\/","token":"8.4\/5\/8.4-502","metadata":false},{"id":378201,"structure_id":53742,"section_number":"8.4-503","catch_line":"Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need","url":"\/8.4-503\/","token":"8.4\/5\/8.4-503","metadata":false},{"id":378202,"structure_id":53742,"section_number":"8.4-504","catch_line":"Privilege of presenting bank to deal with goods; security interest for expenses","url":"\/8.4-504\/","token":"8.4\/5\/8.4-504","metadata":false}],"next_section":{"id":378200,"structure_id":53742,"section_number":"8.4-502","catch_line":"Presentment of \"on arrival\" drafts","url":"\/8.4-502\/","token":"8.4\/5\/8.4-502","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/8.4-501\/","history_text":"<p>This law was first created in 1964. The record of its establishment is cataloged in chapter 219 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1964 \u201cActs\u201d aren\u2019t available online. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 1992, chapter 693.<\/p>","references":false,"refers_to":false,"permalink":{"id":1510173,"object_type":"law","relational_id":378199,"identifier":"8.4-501","token":"8.4\/5\/8.4-501","url":"\/8.4-501\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/8.4-501\/","token":"8.4\/5\/8.4-501","dublin_core":{"Title":"Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor","Type":"Text","Format":"text\/html","Identifier":"\u00a7 8.4-501","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t<section><p>A <span class=\"dictionary\">bank<\/span> that takes a documentary draft for collection shall present or send the draft and accompanying documents for <span class=\"dictionary\">presentment<\/span> and upon learning that the draft has not been paid or accepted in due course shall seasonably notify its customer of the <span class=\"dictionary\">fact<\/span> even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.<\/p><\/section>","plain_text":"                                 CODE OF VIRGINIA\n\nHANDLING OF DOCUMENTARY DRAFTS; DUTY TO SEND FOR PRESENTMENT AND TO NOTIFY\nCUSTOMER OF DISHONOR (\u00a7 8.4-501)\n\nA bank that takes a documentary draft for collection shall present or send the\ndraft and accompanying documents for presentment and upon learning that the\ndraft has not been paid or accepted in due course shall seasonably notify its\ncustomer of the fact even though it may have discounted or bought the draft or\nextended credit available for withdrawal as of right.\n\nHISTORY: 1964, c. 219; 1992, c. 693.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}