2021 Oregon Revised Statutes
Volume : 02 - Business Organizations, Commercial Code
Chapter 074A - Funds Transfers

Section 74A.1030 - Payment order; definitions. - (a) "Beneficiary" means the person to be paid by the...

Section 74A.1040 - Funds transfer; definitions. - (1) "Funds transfer" means the series of transactions, beginning with...

Section 74A.1050 - Other definitions. - (a) "Authorized account" means a deposit account of a customer...

Section 74A.1060 - Time payment order is received. - (2) If this chapter refers to an execution date or...

Section 74A.1080 - Exclusion of consumer transactions covered by federal law; remittance transfers. - (2) This chapter applies to a funds transfer that is...

Section 74A.2010 - Security procedure. - (a) Verifying that a payment order or communication amending or...

Section 74A.2020 - Authorized and verified payment orders. - (2) If a bank and its customer have agreed that...

Section 74A.2030 - Unenforceability of certain verified payment orders. - (a) By express written agreement, the receiving bank may limit...

Section 74A.2040 - Refund of payment and duty of customer to report with respect to unauthorized payment order. - (2) Reasonable time under subsection (1) of this section may...

Section 74A.2050 - Erroneous payment orders. - (a) Erroneously instructed payment to a beneficiary not intended by...

Section 74A.2060 - Transmission of payment order through funds transfer or other communication system. - (2) This section applies to cancellations and amendments of payment...

Section 74A.2070 - Misdescription of beneficiary. - (2) If a payment order received by the beneficiary’s bank...

Section 74A.2080 - Misdescription of intermediary bank or beneficiary’s bank. - (a) The receiving bank may rely on the number as...

Section 74A.2090 - Acceptance of payment order. - (2) Subject to subsections (3) and (4) of this section,...

Section 74A.2100 - Rejection of payment order. - (a) Any means complying with the agreement is reasonable; and...

Section 74A.2110 - Cancellation and amendment of payment order. - (2) Subject to subsection (1) of this section, a communication...

Section 74A.3010 - Execution and execution date. - (2) "Execution date" of a payment order means the day...

Section 74A.3020 - Obligations of receiving bank in execution of payment order. - (a) The receiving bank is obliged to issue, on the...

Section 74A.3030 - Erroneous execution of payment order. - (2) A receiving bank that executes the payment order of...

Section 74A.3050 - Liability for late or improper execution or failure to execute payment order. - (2) If execution of a payment order by a receiving...

Section 74A.4020 - Obligation of sender to pay receiving bank. - (2) With respect to a payment order issued to the...

Section 74A.4030 - Payment by sender to receiving bank. - (a) If the sender is a bank, payment occurs when...

Section 74A.4040 - Obligation of beneficiary’s bank to pay and give notice to beneficiary. - (2) If a payment order accepted by the beneficiary’s bank...

Section 74A.4050 - Payment by beneficiary’s bank to beneficiary. - (a) The beneficiary is notified of the right to withdraw...

Section 74A.4060 - Payment by originator to beneficiary; discharge of underlying obligation. - (a) At the time a payment order for the benefit...

Section 74A.5010 - Variation by agreement and effect of funds-transfer system rule. - (2) "Funds-transfer system rule" means a rule of an association...

Section 74A.5020 - Creditor process served on receiving bank; setoff by beneficiary’s bank. - (2) This subsection applies to creditor process with respect to...

Section 74A.5030 - Injunction or restraining order with respect to funds transfer. - (a) A person from issuing a payment order to initiate...

Section 74A.5040 - Order in which items and payment orders may be charged to account; order of withdrawals from account. - (2) In determining whether a credit to an account has...

Section 74A.5060 - Rate of interest. - (a) By agreement of the sender and receiving bank; or...

Section 74A.5070 - Choice of law. - (a) The rights and obligations between the sender of a...