Alaska Statutes Title 45, Chapter 45.14, Article 02 - Issue and Acceptance of Payment Order

• Sec. 45.14.201 Security Procedure.
  (a) In this chapter, "security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of(1) verifying...
• Sec. 45.14.202 Authorized and Verified Payment Orders.
  (a) A payment order received by the receiving bank is the authorized order of the person identified as sender if that person authorized the...
• Sec. 45.14.203 Unenforceability of Certain Verified Payment Orders.
  (a) If an accepted payment order is not, under AS 45.14.202 (a), an authorized order of a customer identified as sender, but is effective...
• Sec. 45.14.204 Refund of Payment and Duty of Customer to Report With Respect to Unauthorized Payment Order.
  (a) If a receiving bank accepts a payment order issued in the name of its customer as sender and if the payment order is...
• Sec. 45.14.205 Erroneous Payment Orders.
  (a) If an accepted payment order was transmitted under a security procedure for the detection of error and the payment order was an erroneous...
• Sec. 45.14.206 Transmission of Payment Order Through Funds-Transfer or Other Communication System.
  (a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to...
• Sec. 45.14.207 Misdescription of Beneficiary.
  (a) Subject to (b) of this section, if, in a payment order received by the beneficiary's bank, the name, bank account number, or other...
• Sec. 45.14.208 Misdescription of Intermediary Bank or Beneficiary's Bank.
  (a) The following rules in this subsection apply to a payment order identifying an intermediary bank or the beneficiary's bank only by an identifying...
• Sec. 45.14.209 Acceptance of Payment Order.
  (a) Subject to (d) of this section, a receiving bank other than the beneficiary's bank accepts a payment order when it executes the order.(b)...
• Sec. 45.14.210 Rejection of Payment Order.
  (a) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing....
• Sec. 45.14.211 Cancellation and Amendment of Payment Order.
  (a) A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically,...
• Sec. 45.14.212 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...

Last modified: November 15, 2016