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2022 Iowa Code
Title XIII - COMMERCE
Chapter 554 - UNIFORM COMMERCIAL CODE
Section 554.12201 - Security procedure.
Universal Citation: IA Code § 554.12201 (2022)
554.12201 Security procedure.
“Security procedure” means a procedure established by agreement between a customer and a receiving bank for the purpose of verifying that a payment order or communication amending or canceling a payment order is that of the customer, or 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 or numbers, encryption, callback procedures, or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.
92 Acts, ch 1146, §9
Referred to in §554.12105
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