§490:4A-505 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 unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer. [L 1991, c 41, pt of §1]
Section: Previous 490-4a-404 490-4a-405 490-4a-406 490-4a-501 490-4a-502 490-4a-503 490-4a-504 490-4a-505 490-4a-506 490-4a-507 490-5-101-to-490-5-117 490-5-102 490-5-103 490-5-104 490-5-105 NextLast modified: October 27, 2016