If payment by the originator does not result in discharge under this section, the originator is subrogated to the rights of the beneficiary to receive payment from the beneficiary's bank under § 47-4A-404(a).
At the time a payment order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds transfer; and
In an amount equal to the amount of the order accepted by the beneficiary's bank, but not more than the amount of the originator's order.
The payment under subsection (a) was made by a means prohibited by the contract of the beneficiary with respect to the obligation;
The beneficiary, within a reasonable time after receiving notice of receipt of the order by the beneficiary's bank, notified the originator of the beneficiary's refusal of the payment;
Funds with respect to the order were not withdrawn by the beneficiary or applied to a debt of the beneficiary; and
The beneficiary would suffer a loss that could reasonably have been avoided if payment had been made by a means complying with the contract.