§ 47-4A-101. Short Title
This chapter may be cited as Uniform Commercial Code — Funds Transfers.
§ 47-4A-102. Subject Matter
Except as otherwise provided in § 47-4A-108, this chapter applies to funds transfers defined in § 47-4A-104.
§ 47-4A-103. Payment Order — Definitions
In this chapter: “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: “Beneficiary” means the person to be paid by the beneficiary’s bank; “Beneficiary’s bank” means […]
§ 47-4A-104. Funds Transfer — Definitions
In this chapter: “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 transfer […]
§ 47-4A-105. Other Definitions
In this chapter: “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 […]
§ 47-4A-106. Time Payment Order Is Received
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 § 47-1-202. A receiving bank may fix a cut-off time or times on a funds-transfer business day for the receipt and processing of payment orders and […]
§ 47-4A-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 chapter to the extent of the inconsistency.
§ 47-4A-108. Relationship to Electronic Fund Transfer Act
Except as provided in subsection (b), this chapter 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. This chapter applies to a funds […]