410.101 – Short title.

410.101 Short title. This chapter may be cited as uniform commercial code — funds transfers. History: 1991 a. 304.

410.102 – Subject matter.

410.102 Subject matter. Except as otherwise provided in s. 410.108, this chapter applies to funds transfers as defined in s. 410.104 (1). History: 1991 a. 304.

410.103 – Payment order; definitions.

410.103 Payment order; definitions. (1) In this chapter: (a) “Beneficiary” means the person to be paid by the beneficiary’s bank. (b) “Beneficiary’s bank” means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the […]

410.104 – Funds transfer; definitions.

410.104 Funds transfer; definitions. In this chapter: (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. “Funds transfer” includes any payment order issued by the originator’s bank or an intermediary bank intended to carry out the originator’s […]

410.105 – Other definitions.

410.105 Other definitions. (1) In this chapter: (a) “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 […]

410.106 – Time payment order is received.

410.106 Time payment order is received. (1) 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 s. 401.202 (6). A receiving bank may fix a cutoff time or times on a funds-transfer business day for […]

410.107 – Federal reserve regulations and operating circulars.

410.107 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: 1991 a. 304.

410.108 – Relationship to Electronic Fund Transfer Act.

410.108 Relationship to Electronic Fund Transfer Act. (1) Except as provided in sub. (2), this chapter does not apply to a funds transfer any part of which is governed by the electronic fund transfer act, 15 USC 1693 to 1693r. (2) This chapter applies to a funds transfer that is a remittance transfer, as defined […]