1. Where a bill of exchange is not presented for payment on the date of maturity, any debtor thereof may deposit its value with the treasury of the court within whose jurisdiction the place of payment is located. Such deposit shall be at the bearer's expense and under his responsibility and against a receipt to be delivered to the depositor stating the sum deposited, the date of drawing up the bill of exchange, the maturity date thereof and the name of the person in whose favor it was originally drawn up. 2. Where the bearer claims payment from the debtor, the latter shall deliver to the bearer the receipt for the deposit against the surrender of the bill of exchange on which it is marked that payment was made by virtue of the said instrument. The bearer shall in this case receive the sum deposited with the court against such instrument. If the debtor fails to deliver the deposit receipt to the bearer, he shall be bound to pay the value of the bill of exchange.
Interpretation and application must be checked against the official text and current version.