Michigan Compiled Laws 174-1962-4a-5 Part 5 Miscellaneous Provisions (440.4951...440.4957)

• Section 440.4951 Rights And Obligations Of Party To Funds Transfer Varied By Agreement Of Affected Party; “funds-transfer System Rule” Defined.
  (1) Except as otherwise provided in this article, the rights and obligations of a party to a funds transfer may be varied by agreement...
• Section 440.4952 “creditor Process” Defined And Explained.
  (1) As used in this section, “creditor process” means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf...
• Section 440.4953 Powers Of Court With Respect To Funds Transfer.
  For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a...
• Section 440.4954 Receiving Bank; Authority To Charge Sender's Account; Credits.
  (1) If a receiving bank has received more than 1 payment order of the sender or 1 or more payment orders and other items...
• Section 440.4955 Customer Objection To Payment; Notification Required.
  If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as...
• Section 440.4956 Receiving Bank; Determination Of Interest Payable.
  (1) If, under this article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the...
• Section 440.4957 Rights And Obligations Of Parties; Application Of Choice Of Law.
  (1) The following rules apply unless the affected parties otherwise agree or subsection (3) applies: (a) The rights and obligations between the sender of...

Last modified: October 10, 2016