47-4A505. 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.
Section: Previous 47-4a404 47-4a405 47-4a406 47-4a501 47-4a502 47-4a503 47-4a504 47-4a505 47-4a506 47-4a507 47-5101 47-5102 47-5103 47-5104 47-5105 NextLast modified: October 13, 2016