Texas Business and Commerce Code 4.110 – Electronic Presentment
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(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 under an agreement for presentment is made when the presentment notice is received.
Terms Used In Texas Business and Commerce Code 4.110
- Item: means an instrument or a promise or order to pay money handled by a bank for collection or payment. See Texas Business and Commerce Code 4.104
- Rule: includes regulation. See Texas Government Code 311.005
(c) If presentment is made by presentment notice, a reference to “item” or “check” in this chapter means the presentment notice unless the context otherwise indicates.