11 §4-1101. Short title

§4-1101. Short title This Article is known and may be cited as the “Uniform Commercial Code – Funds Transfers.”   [PL 1991, c. 812, §2 (NEW).] SECTION HISTORY PL 1991, c. 812, §2 (NEW).

11 §4-1102. Subject matter

§4-1102. Subject matter Except as otherwise provided in section 4-1109, this Article applies to funds transfers defined in section 4-1104.   [PL 2013, c. 151, §1 (AMD).] SECTION HISTORY PL 1991, c. 812, §2 (NEW). PL 2013, c. 151, §1 (AMD).

11 §4-1103. Payment order; definitions

§4-1103. Payment order; definitions (1).  In this Article:   (a). “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:   (i) The instruction does not state […]

11 §4-1104. Funds transfer; definitions

§4-1104. Funds transfer; definitions In this Article:   (1).  “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 […]

11 §4-1105. Other definitions

§4-1105. Other definitions (1).  In this Article:   (a). “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 […]

11 §4-1106. Time payment order received

§4-1106. Time payment order received (1).  The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 1-1202. A receiving bank may fix a cut-off time or times on a funds transfer business day for the […]

11 §4-1107. Federal reserve regulations and operating circulars

§4-1107. Federal reserve regulations and operating circulars 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 Article to the extent of the inconsistency.   [PL 1991, c. 812, §2 (NEW).] SECTION HISTORY PL 1991, c. 812, §2 (NEW).

11 §4-1108. Exclusion of consumer transactions governed by federal law (REPEALED)

§4-1108. Exclusion of consumer transactions governed by federal law (REPEALED) SECTION HISTORY PL 1991, c. 812, §2 (NEW). PL 2013, c. 151, §2 (RP).

11 §4-1109. Relationship to federal Electronic Fund Transfer Act

§4-1109. Relationship to federal Electronic Fund Transfer Act (1).  Except as provided in subsection (2), this Article 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 United States Code, Section 1693 et seq., as […]