Can Past Due Notes Be Renewed?
Banking and Financial Services attorney, David Kantor addresses this question in his article published by the Minnesota Bankers Association Legal Compliance Bulletin.
"Banks frequently renew promissory notes that are not paid at maturity. From time
to time, there are delays in the processing of a renewal note that cause the note to be
renewed after maturity. Should the bank be concerned about using this procedure?"
Read the full article.