NRS 104A.4406 – Payment by originator to beneficiary; discharge of underlying obligation.
1. Except as otherwise provided in subsection 5 of NRS 104A.4211 and subsections 4 and 5 of NRS 104A.4405, the originator of a funds transfer pays the beneficiary of the originator’s payment order at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary’s bank in the funds transfer […]
NRS 104A.4501 – Variation by agreement and effect of funds-transfer system rule.
1. Except as otherwise provided in this article, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. 2. “Funds-transfer system rule” means a rule of an association of banks governing transmission of payment orders by means of a funds-transfer system of the association or […]
NRS 104A.4502 – Creditor’s process served on receiving bank; setoff by beneficiary’s bank.
1. As used in this section, “creditor’s process” means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account. 2. If creditor’s process with respect to an authorized account of the sender of a payment order is served on […]
NRS 104A.4503 – Injunction or restraining order with respect to funds transfer.
1. For proper cause and in compliance with applicable law, a court may restrain: (a) A person from issuing a payment order to initiate a funds transfer; (b) An originator’s bank from executing the payment order of the originator; or (c) The beneficiary’s bank from releasing funds to the beneficiary or the beneficiary from withdrawing […]
NRS 104A.4504 – Order in which items and payment orders may be charged to account; order of withdrawals from account.
1. If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender’s account, the bank may charge the sender’s account with respect to the various orders and items in any sequence. 2. In determining whether a credit […]
NRS 104A.4505 – Preclusion of objection to debit of customer’s account.
If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment […]
NRS 104A.4506 – Rate of interest.
1. If, under this article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined: (a) By agreement of the sender and receiving bank; or (b) By a funds-transfer system rule if the payment order is transmitted through a funds-transfer system. […]
NRS 104A.4507 – Choice of law.
1. The following rules govern choice of law unless the affected parties otherwise agree or subsection 3 applies: (a) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located. (b) The rights and obligations between […]
NRS 104A.4304 – Duty of sender to report erroneously executed payment order.
If the sender of a payment order that is erroneously executed as stated in NRS 104A.4303 receives notification from the receiving bank that the order was executed or that the sender’s account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information […]
NRS 104A.4305 – Liability for late or improper execution or failure to execute payment order.
1. If a funds transfer is completed but execution of a payment order by the receiving bank in breach of NRS 104A.4302 results in delay in payment to the beneficiary, the bank is obliged to pay interest to either the originator or the beneficiary of the funds transfer for the period of delay caused by […]