KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

84-3-304. Overdue instrument. (a) An instrument payable on demand becomes overdue at the earliest of the following times:

(1) On the day after the day demand for payment is duly made;

(2) if the instrument is a check, 90 days after its date; or

(3) if the instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade.

(b) With respect to an instrument payable at a definite time the following rules apply:

(1) If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured.

(2) If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day after the due date.

(3) If a due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due date.

(c) Unless the due date of principal has been accelerated, an instrument does not become overdue if there is default in payment of interest but no default in payment of principal.

History: L. 1991, ch. 296, § 30; Feb. 1, 1992.

Revisor's Note:

Former section 84-3-304 was repealed by L. 1991, ch. 296, § 111 and the number reassigned to the current text.


 | Next

NEW
2020 Amended and Repealed Statutes

2020 SPECIAL SESSION
Information for Special Session 2020

LEGISLATIVE COORDINATING COUNCIL
4/27/2021 Meeting Notice Agenda
4/1/2021 Meeting Notice Agenda
3/10/2021 Meeting Notice Agenda
12/30/2020 Meeting Notice Agenda
11/19/2020 Meeting Notice Agenda
9/16/2020 Meeting Notice Agenda
4/2/2020 Meeting Notice Agenda
3/29/2020 Meeting Notice Agenda
3/27/2020 Meeting Notice Agenda
3/24/2020 Meeting Notice Agenda

LCC Policies

REVISOR OF STATUTES
2020 Interim Committee Assignments
2020
Chapter 72 Statute Transfer List
Kansas School Equity & Enhancement Act
Gannon v. State
General Information, Legal Analysis & Research
2019 Amended & Repealed Statutes
2018 Amended & Repealed Statutes
2017 Amended & Repealed Statutes
2016 Amended & Repealed Statutes
2015 Amended & Repealed Statutes
2014 Amended & Repealed Statutes
2013 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

 OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department