Negotiable Instruments Act Article 79

When the drawee or their paying agent fails to make payment within the time limits set forth in Articles 69 and 70, the holder shall present the bill to the acceptor for honor of payment if one is available. If there is no acceptor for honor but a referee in case of need is specified on the bill, the holder shall present the bill to the referee in case of need for payment.If the acceptor for honor or the referee, in case of need, fails to discharge the bill by payment upon presentment, the holder shall request the agency making the protest to note this fact on the protest.If the holder fails to comply with any of the provisions of the preceding two paragraphs, they lose their right of recourse against the party for whose honor the payment is made, the person who designated the referee in case of need, and all parties subsequent to them.