(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.
Presentment of an item pursuant to an agreement for presentment is made when thepresentment notice is received.
If presentment is made by presentment notice, a reference to "item" or "check" in thisarticle means the presentment notice unless the context otherwise indicates.
Source: L. 94: Entire article amended with relocations, p. 884, § 2, effective January 1, 1995.
Editor's note: This section is similar to former § 4-4-109 as it existed prior to 1994.