Section 11501.
11501. (a) Except as otherwise provided in this division, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. (b) “Funds-transfer system rule” means a rule of an association of banks (i) governing transmission of payment orders by means of a funds-transfer system of the association or […]
Section 11101.
11101. This division may be cited as Uniform Commercial Code—Funds Transfers. (Added by Stats. 1990, Ch. 125, Sec. 2.)
Section 11209.
11209. (a) Subject to subdivision (d), a receiving bank other than the beneficiary’s bank accepts a payment order when it executes the order. (b) Subject to subdivisions (c) and (d), a beneficiary’s bank accepts a payment order at the earliest of the following times: (1) When the bank (i) pays the beneficiary as stated in subdivision (a) or […]
Section 11102.
11102. Except as otherwise provided in Section 11108, this division applies to funds transfers defined in Section 11104. (Added by Stats. 1990, Ch. 125, Sec. 2.)
Section 11103.
11103. (a) In this division: (1) “Payment order” means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if all of the following apply: (i) The instruction does not state a condition to […]
Section 11104.
11104. In this division: (a) “Funds transfer” means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s payment order. A funds […]
Section 11105.
11105. (a) In this division: (1) “Authorized account” means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, any account of the customer is an authorized account if payment […]
Section 11106.
11106. (a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in Section 1202. A receiving bank may fix a cutoff time or times on a funds-transfer business day for the receipt and processing of payment orders […]
Section 11107.
11107. Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this division to the extent of the inconsistency. (Added by Stats. 1990, Ch. 125, Sec. 2.)
Section 11108.
11108. (a) Except as provided in subdivision (b), this division does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (Title XX, Public Law 95-630, 92 Stat. 3728, 15 U.S.C. Sec. 1693 et seq.) as amended from time to time. (b) This division shall apply to […]