HRS §490:4-109
When banks can delay or change payment deadlines
This section lets banks handle certain checks with some flexibility. A collecting bank can extend time limits by up to two extra banking days to try to get payment, unless told otherwise. Banks are also excused for delays caused by events beyond their control, like computer failures or emergencies, if they act carefully.
The statute, as written — [OLD] REPEALED
L 1991, c 118, pt of §4. §490:4-109 Delays. (a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank, and with or without the approval of any person involved, may waive, modify, or extend time limits imposed or permitted by this chapter for a period not exceeding two additional banking days without discharge of drawers or indorsers or liability to its transferor or a prior party. (b) Delay by a collecting bank or payor bank beyond time limits prescribed or permitted by this chapter or by instructions is excused if (i) the delay is caused by interruption of communication or computer facilities, suspension of payments by another bank, war, emergency conditions, failure of equipment, or other circumstances beyond the control of the bank, and (ii) the bank exercises such diligence as the circumstances require.
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