§ 62A.4A-212. Liability and duty of receiving bank regarding unaccepted payment order
If a receiving bank fails to accept a payment order that [it] is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this Article, but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action, or refrain from taking action, with respect to the order except as provided in this Article or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in RCW 62A.4A-209 and liability is limited to that provided in this Article. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts, or of any other party to the funds transfer, and the bank owes no duty to any party to the funds transfer except as provided in this Article or by express agreement.
[1991 sp.s. c 21 § 4A-212.]
Sections: Previous 62A.4A-205 62A.4A-206 62A.4A-207 62A.4A-208 62A.4A-209 62A.4A-210 62A.4A-211 62A.4A-212 62A.4A-301 62A.4A-302 62A.4A-303 62A.4A-304 62A.4A-305 62A.4A-401 62A.4A-402 NextLast modified: April 7, 2009