§ 11-4A-101. Short Title

This article shall be known and may be cited as the “Uniform Commercial Code—Funds Transfers.” History. Code 1981, § 11-4A-101 , enacted by Ga. L. 1992, p. 2685, § 4.

§ 11-4A-102. Subject Matter

Except as otherwise provided in Code Section 11-4A-108, this article applies to funds transfers defined in Code Section 11-4A-104. History. Code 1981, § 11-4A-102 , enacted by Ga. L. 1992, p. 2685, § 4.

§ 11-4A-103. Payment Order — Definitions

In this article: “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: The instruction does not state a condition to payment to the beneficiary other than […]

§ 11-4A-104. Funds Transfer — Definitions

In this article: “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 […]

§ 11-4A-105. Other Definitions

In this article: “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 […]

§ 11-4A-106. Time Payment Order Is Received

The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of a notice stated in Code Section 11-1-202. 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 […]

§ 11-4A-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 article to the extent of the inconsistency. History. Code 1981, § 11-4A-107 , enacted by Ga. L. 1992, p. 2685, § 4; Ga. L. 2002, p. 415, § 11.

§ 11-4A-108. Relationship to Federal Electronic Fund Transfer Act

Except as provided in subsection (b) of this Code section, this article does not apply to a funds transfer any part of which is governed by the federal Electronic Fund Transfer Act of 1978, 15 U.S.C. Section 1693, et seq. This article shall apply to a funds transfer that is a remittance transfer as defined […]