2013 Maine Revised Statutes
TITLE 11: UNIFORM COMMERCIAL CODE
Article 4-A: FUNDS TRANSFERS
11 §4-1206. Transmission of payment order through funds transfer or other communication system
Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER
4-1206. Transmission of payment order through funds transfer or other communication system
(1). If a payment order addressed to a receiving bank is transmitted to a funds transfer system or other 3rd-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section does not apply to a funds transfer system of the Federal Reserve Banks.
[ 1991, c. 812, 2 (NEW) .]
(2). This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.
[ 1991, c. 812, 2 (NEW) .]
SECTION HISTORY
1991, c. 812, 2 (NEW).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
