Bank Deposits and Collections (UCC Article 4) 

New Mexico Statutes > Chapter 55 > Article 4 > § 55-4-501 - Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.

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See also:

New Mexico Statutes Chapter 55 > Article 4 - Bank Deposits and Collections

U.S. Code Provisions: Bank Deposits and Collections (UCC Article 4)

U.S. Code > Title 12 > Chapter 41 - Expedited Funds Availability

U.S. Code > Title 12 > Chapter 50 - Check Truncation

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