§12A-3-502.

§12A-3-502.
   
                                  DISHONOR
                                      
   (a) Dishonor of a note is governed by the following rules:
   
   (1) If the note is payable on demand, the note is dishonored if
   presentment is duly made to the maker and the note is not paid on the
   day of presentment;
   
   (2) If the note is not payable on demand and is payable at or through
   a bank or the terms of the note require presentment, the note is
   dishonored if presentment is duly made and the note is not paid on the
   day it becomes payable or the day of presentment, whichever is later;
   and
   
   (3) If the note is not payable on demand and paragraph (2) of this
   subsection does not apply, the note is dishonored if it is not paid on
   the day it becomes payable.
   
   (b) Dishonor of an unaccepted draft other than a documentary draft is
   governed by the following rules:
   
   (1) If a check is duly presented for payment to the payor bank
   otherwise than for immediate payment over the counter, the check is
   dishonored if the payor bank makes timely return of the check or sends
   timely notice of dishonor or nonpayment under Section 4-301 or 4-302
   of this title, or becomes accountable for the amount of the check
   under Section 4-302 of this title;
   
   (2) If a draft is payable on demand and paragraph (1) of this
   subsection does not apply, the draft is dishonored if presentment for
   payment is duly made to the drawee and the draft is not paid on the
   day of presentment;
   
   (3) If a draft is payable on a date stated in the draft, the draft is
   dishonored if (i) presentment for payment is duly made to the drawee
   and payment is not made on the day the draft becomes payable or the
   day of presentment, whichever is later, or (ii) presentment for
   acceptance is duly made before the day the draft becomes payable and
   the draft is not accepted on the day of presentment; and
   
   (4) If a draft is payable on elapse of a period of time after sight or
   acceptance, the draft is dishonored if presentment for acceptance is
   duly made and the draft is not accepted on the day of presentment.
   
   (c) Dishonor of an unaccepted documentary draft occurs according to
   the rules stated in paragraphs (2), (3) and (4) of subsection (b) of
   this section, except that payment or acceptance may be delayed without
   dishonor until no later than the close of the third business day of
   the drawee following the day on which payment or acceptance is
   required by those paragraphs.
   
   (d) Dishonor of an accepted draft is governed by the following rules:
   
   (1) If the draft is payable on demand, the draft is dishonored if
   presentment for payment is duly made to the acceptor and the draft is
   not paid on the day of presentment; and
   
   (2) If the draft is not payable on demand, the draft is dishonored if
   presentment for payment is duly made to the acceptor and payment is
   not made on the day it becomes payable or the day of presentment,
   whichever is later.
   
   (e) In any case in which presentment is otherwise required for
   dishonor under this section and presentment is excused under Section
   3-504 of this title, dishonor occurs without presentment if the
   instrument is not duly accepted or paid.
   
   (f) If a draft is dishonored because timely acceptance of the draft
   was not made and the person entitled to demand acceptance consents to
   a late acceptance, from the time of acceptance the draft is treated as
   never having been dishonored.