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MARVIN MANDEL, Governor
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residence or place of business of the drawee, or its date
of payment depends upon such presentment. The holder
may at his option present for acceptance any other draft
payable at a stated date;
(b) Presentment for payment is necessary to
charge any indorser;
(c) In the case of any drawer, the acceptor
of a draft payable at a bank or the maker of a note
payable at a bank, presentment for payment is necessary,
but failure to make presentment discharges such drawer,
acceptor or Baker only as stated in § 3—502 (1) (b).
(2) Unless excused (§ 3-511)
(a) notice of any dishonor is necessary to
charge any indorser;
(b) In the case of any drawer, the acceptor
of a draft payable at a bank or the maker of a note
payable at a bank, notice of any dishonor is necessary,
but failure to give such notice discharges such drawer,
acceptor or maker only as stated in § 3—502 (1) (b).
(3) Unless excused (§ 3—511) protest of any
dishonor is necessary to charge the drawer and indorsers
of any draft which on its face appears to be drawn or
payable outside of the states and territories of the
United States and the District of Columbia. The holder
may at his option make protest of any dishonor of any
other instrument and in the case of a foreign draft may
on insolvency of the acceptor before maturity make
protest for better security.
(4) Notwithstanding any provision of this section,
neither presentment nor notice of dishonor nor protest is
necessary to charge an indorser who has indorsed an
instrument after maturity.
3—502. Unexcused delay; discharge.
(1) Where without excuse any necessary presentment
or notice of dishonor is delayed beyond the time when it
is due
(a) Any indorser is discharged; and
(b) Any drawer or the acceptor of a draft
payable at a bank or the maker of a note payable at a
bank who because the drawee or payor bank becomes
insolvent during the delay is deprived of funds
maintained with the drawee or payor bank to cover the
instrument may discharge his liability by written
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