13 Pennsylvania Consolidated Statutes Chapter 4a2 - Issue And Acceptance Of Payment Order

• Chapter Notes
• Section 4a201 - Security Procedure
  "Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of: (1) verifying that a payment...
• Section 4a202 - Authorized And Verified Payment Orders
  (a) Authorized payment order.--A payment order received by the receiving bank is the authorized order of the person identified as sender if that person...
• Section 4a203 - Unenforceability Of Certain Verified Payment Orders
  (a) General rule.--If an accepted payment order is not, under section 4A202(a) (relating to authorized and verified payment orders), an authorized order of a...
• Section 4a204 - Refund Of Payment And Duty Of Customer To Report With Respect To Unauthorized Payment Order
  § 4A204. Refund of payment and duty of customer to report with respect to unauthorized payment order. (a) General rule.--If a receiving bank accepts...
• Section 4a205 - Erroneous Payment Orders
  (a) Types of erroneous payment orders.-- (1) The rules set forth under paragraph (2) apply if an accepted payment order was transmitted pursuant to...
• Section 4a206 - Transmission Of Payment Order Through Funds-transfer Or Other Communication System
  § 4A206. Transmission of payment order through funds-transfer or other communication system. (a) General rule.--If a payment order addressed to a receiving bank is...
• Section 4a207 - Misdescription Of Beneficiary
  (a) Reference to nonexistent or unidentifiable person or account.--Subject to subsection (b), if, in a payment order received by the beneficiary's bank, the name,...
• Section 4a208 - Misdescription Of Intermediary Bank Or Beneficiary's Bank
  § 4A208. Misdescription of intermediary bank or beneficiary's bank. (a) Identification only by identifying number.--This subsection applies to a payment order identifying an intermediary...
• Section 4a209 - Acceptance Of Payment Order
  (a) Receiving bank.--Subject to subsection (d), a receiving bank other than the beneficiary's bank accepts a payment order when it executes the order. (b)...
• Section 4a210 - Rejection Of Payment Order
  (a) Manner of rejection.--A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically or...
• Section 4a211 - Cancellation And Amendment Of Payment Order
  (a) Communication.--A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically...
• Section 4a212 - Liability And Duty Of Receiving Bank Regarding Unaccepted Payment Order
  § 4A212. Liability and duty of receiving bank regarding unaccepted payment order. If a receiving bank fails to accept a payment order that it...

Last modified: October 8, 2016