§12A-3-304.

§12A-3-304.
   
                             OVERDUE INSTRUMENT
                                      
   (a) An instrument payable on demand becomes overdue at the earliest of
   the following times:
   
   (1) on the day after the day demand for payment is duly made;
   
   (2) if the instrument is a check, ninety (90) days after its date; or
   
   (3) if the instrument is not a check, when the instrument has been
   outstanding for a period of time after its date which is unreasonably
   long under the circumstances of the particular case in light of the
   nature of the instrument and usage of the trade.
   
   (b) With respect to an instrument payable at a definite time the
   following rules apply:
   
   (1) If the principal is payable in installments and a due date has not
   been accelerated, the instrument becomes overdue upon default under
   the instrument for nonpayment of an installment, and the instrument
   remains overdue until the default is cured;
   
   (2) If the principal is not payable in installments and the due date
   has not been accelerated, the instrument becomes overdue on the day
   after the due date; and
   
   (3) If a due date with respect to principal has been accelerated, the
   instrument becomes overdue on the day after the accelerated due date.
   
   (c) Unless the due date of principal has been accelerated, an
   instrument does not become overdue if there is default in payment of
   interest but no default in payment of principal.