84-4-110. Electronic presentment. (a) "Agreement for electronic presentment" means an agreement, clearing-house rule, or federal reserve regulation or operating circular, providing that presentment of an item may be made by transmission of an image of an item or information describing the item ("presentment notice") rather than delivery of the item itself. The agreement may provide for procedures governing retention, presentment, payment, dishonor, and other matters concerning items subject to the agreement.
(b) Presentment of an item pursuant to an agreement for presentment is made when the presentment notice is received.
(c) If presentment is made by presentment notice, a reference to "item" or "check" in this article means the presentment notice unless the context otherwise indicates.
History: L. 1991, ch. 296, ยง 80; February 1, 1992.
KANSAS COMMENT, 1996
This section is identical to the 1995 Official Text and is new. It is designed to facilitate electronic presentment, ending the need for presentment of the actual check. This also aids truncation, the retention of the check by one of the banks in the collection process. The process is then completed by electronically forwarding the relevant information regarding the check, defined in subsection (a) as "presentment notice," and references in Article 4 to items or checks also refer to "presentment notice."
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