Section 4A-101 – Short Title

    This title may be cited as Maryland Uniform Commercial Code – Funds Transfers.

Section 4A-102 – Subject Matter

    Except as otherwise provided in § 4A-108 of this subtitle, this title applies to funds transfers defined in § 4A-104 of this subtitle.

Section 4A-103 – Payment Order; Definitions

    (a)    In this title:         (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:             (i)    The instruction does not state a condition to payment to the beneficiary other than […]

Section 4A-104 – Funds Transfer; Definitions

    In this title:         (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 by an intermediary bank intended to carry out the originator’s payment order. A funds […]

Section 4A-105 – Other Definitions

    (a)    In this title:         (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 of […]

Section 4A-106 – Time Payment Order Is Received

    (a)    (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 § 1–202 of this article.         (2)    A receiving bank may fix a cutoff time or times on a funds–transfer business day for the receipt and processing of […]

Section 4A-107 – 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 title to the extent of the inconsistency.

Section 4A-108 – Exclusion of Consumer Transactions Governed by Federal Law; Exception

    (a)    Except as provided in subsection (b) of this section, this title 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. § 1693 et seq.) as amended from time to time.     (b)    This title applies […]