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Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 4. · Article 4. BANK DEPOSITS AND COLLECTIONS · Part 1. GENERAL PROVISIONS AND DEFINITIONS

11-4-109. Delays.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

  1. (a)

    Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this title for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party.#

  2. (b)

    Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this title or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank; and (ii) the bank exercises such diligence as the circumstances require.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1933, § 109A-4-108, enacted by Ga. L. 1962, p. 156, § 1; Code 1981, § 11-4-109, as redesignated by Ga. L. 1996, p. 1306, § 5.

Editor's notes

Ga. L. 1996, p. 1306, § 5, effective July 1, 1996, renumbered former Code Section 11-4-108 as present Code Section 11-4-109.

Read the official page (the state's PDF, opened at the page this text was read from).

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, page 491; merge action: carried; file SHA-256 ad397fccbf21.