| 7.__Person other than individual; reasonable diligence.__ |
Except as otherwise provided in subsection 8, a person other than |
an individual knows, has notice or receives a notification of a |
fact for purposes of a particular transaction when the individual |
conducting the transaction for the person knows, has notice or |
receives a notification of the fact or in any event when the fact |
would have been brought to the individual's attention if the |
person had exercised reasonable diligence. A person other than an |
individual exercises reasonable diligence if it maintains |
reasonable routines for communicating significant information to |
the individual conducting the transaction for the person and |
there is reasonable compliance with the routines. Reasonable |
diligence does not require an individual acting for the person to |
communicate information unless the communication is part of the |
individual's regular duties or the individual has reason to know |