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2009 Kentucky Revised Statutes
Article 4A Funds Transfers
355.4A.201 Security procedure.

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355.4A-201 Security procedure. &quot;Security procedure&quot; means a procedure established by agreement of a customer and a <br>receiving bank for the purpose of: <br>(1) Verifying that a payment order or communication amending or canceling a payment order is that of the customer; or (2) Detecting error in the transmission or the content of the payment order or communication. A security procedure may require the use of algorithms or other codes, identifying words <br>or numbers, encryption, callback procedures, or similar security devices. Comparison of a <br>signature on a payment order or communication with an authorized specimen signature of <br>the customer is not by itself a security procedure. Effective: July 14, 1992 <br>History: Created 1992 Ky. Acts ch. 116, sec. 32, effective July 14, 1992.

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