56a-102. Knowledge and notice.
56a-102
56a-102. Knowledge and notice.(a) A person knows a fact if the person hasactual knowledge of it.
(b) A person has notice of a fact if the person:
(1) Knows of it;
(2) has received a notification of it; or
(3) has reason to know it exists from all of thefacts known to the person at the time in question.
(c) A person notifies or gives a notification to anotherby taking steps reasonably required to inform the other person inordinary course, whether or not the other person learns of it.
(d) A person receives a notification when thenotification:
(1) Comes to the person's attention; or
(2) is duly delivered at the person's place ofbusiness or at any other place held out by the person as a placefor receiving communications.
(e) Except as otherwise provided in subsection (f), aperson other than an individual knows, has notice, or receives anotification of a fact for purposes of a particular transactionwhen the individual conducting the transaction knows, has notice,or receives a notification of the fact, or in any event when thefact would have been brought to the individual's attention if theperson had exercised reasonable diligence. The person exercisesreasonable diligence if it maintains reasonable routines forcommunicating significant information to the individual conductingthe transaction and there is reasonable compliance with theroutines. Reasonable diligence does not require an individualacting for the person to communicate information unless thecommunication is part of the individual's regular duties or theindividual has reason to know of the transaction and that thetransaction would be materially affected by the information.
(f) A partner's knowledge, notice, or receipt of anotification of a fact relating to the partnership is effectiveimmediately as knowledge by, notice to, or receipt of anotification by the partnership, except in the case of a fraud onthe partnership committed by or with the consent of that partner.
History: L. 1998, ch. 93, § 2; Jan. 1, 1999.