Presentment where instrument is not payable on demand and where payable on demand.
Section 71
SEC. 71. Presentment where instrument is not payable on demand and where payable on demand.— Where the instrument is not payable on demand, presentment must be made on the day it falls due. Where it is payable on demand, presentment must be made within a reasonable time after its issue, except that in the case of a bill of exchange, presentment for payment will be sufficient if made within a reasonable time after the last negotiation thereof.