2021 Tennessee Code
Part 3 - Execution of Sender's Payment Order by Receiving Bank
§ 47-4A-303. Erroneous Execution of Payment Order

is entitled to payment of the amount of the sender's order under § 47-4A-402(c) 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.
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.
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
Issues a payment order in execution of the sender's order and then issues a duplicate order;
That subsection is otherwise satisfied; and
The bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender's order.

Structure 2021 Tennessee Code