Section 6A-4.1-101. – Short title.
§ 6A-4.1-101. Short title. This chapter may be cited as Uniform Commercial Code Funds Transfers. History of Section.P.L. 1991, ch. 189, § 1.
Section 6A-4.1-102. – Subject matter.
§ 6A-4.1-102. Subject matter. Except as otherwise provided in § 6A-4.1-108, this chapter applies to funds transfers defined in § 6A-4.1-104. History of Section.P.L. 1991, ch. 189, § 1.
Section 6A-4.1-103. – Payment order — Definitions.
§ 6A-4.1-103. Payment order — Definitions. (a) In this chapter: (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 […]
Section 6A-4.1-104. – Funds transfer — Definitions.
§ 6A-4.1-104. Funds transfer — Definitions. In this chapter: (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 […]
Section 6A-4.1-105. – Other definitions.
§ 6A-4.1-105. Other definitions. (a) In this chapter: (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 […]
Section 6A-4.1-106. – Time payment order is received.
§ 6A-4.1-106. Time payment order is received. (a) 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 § 6A-1-202. A receiving bank may fix a cut-off time or times on a funds transfer business day […]
Section 6A-4.1-107. – Federal reserve regulations and operating circulars.
§ 6A-4.1-107. 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 chapter to the extent of the inconsistency. History of Section.P.L. 1991, ch. 189, § 1.
Section 6A-4.1-108. – Exclusion of consumer transactions governed by federal law.
§ 6A-4.1-108. Exclusion of consumer transactions governed by federal law. (a) Except as provided in subsection (b), this chapter does not apply to 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 […]