2006 New York Code - Erroneous Execution Of Payment Order.

 
  Section 4-A-303. Erroneous Execution of Payment Order.
    (1) A receiving bank that (i) executes the payment order of the sender
  by  issuing  a payment order in an amount greater than the amount of the
  sender's order, or (ii) issues a  payment  order  in  execution  of  the
  sender's order and then issues a duplicate order, is entitled to payment
  of  the  amount  of  the  sender's order under subsection (3) of Section
  4-A-402 if that subsection is otherwise satisfied. The bank is  entitled
  to  recover  from  the  beneficiary  of  the  erroneous order the excess
  payment received to the extent allowed by the law governing mistake  and
  restitution.
    (2)  A receiving bank that executes the payment order of the sender by
  issuing a payment order in  an  amount  less  than  the  amount  of  the
  sender's  order  is  entitled  to  payment of the amount of the sender's
  order under subsection (3) of Section 4-A-402 if (i) that subsection  is
  otherwise satisfied and (ii) the bank corrects its mistake by issuing an
  additional  payment  order  for  the  benefit  of the beneficiary of the
  sender's order. If the  error  is  not  corrected,  the  issuer  of  the
  erroneous order is entitled to receive or retain payment from the sender
  of  the  order  it  accepted  only  to  the  extent of the amount of the
  erroneous order. This subsection does not apply if  the  receiving  bank
  executes  the  sender's  payment  order by issuing a payment order in an
  amount less than the amount of the sender's order  for  the  purpose  of
  obtaining  payment  of its charges for services and expenses pursuant to
  instruction of the sender.
    (3) If a receiving bank executes the payment order of  the  sender  by
  issuing  a payment order to a beneficiary different from the beneficiary
  of the sender's order and the funds transfer is completed on  the  basis
  of  that  error,  the  sender  of the payment order that was erroneously
  executed and all previous senders in the funds transfer are not  obliged
  to pay the payment orders they issued. The issuer of the erroneous order
  is  entitled  to  recover  from the beneficiary of the order the payment
  received to  the  extent  allowed  by  the  law  governing  mistake  and
  restitution.