Except as otherwise provided in this chapter, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this chapter and indirectly affects another party to the funds transfer who does not consent to the rule. A funds-transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in §§ 47-4A-404(c), 47-4A-405(d), and 47-4A-507(c).
Governing transmission of payment orders by means of a funds-transfer system of the association or rights and obligations with respect to those orders; or
To the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a federal reserve bank, acting as an intermediary bank, sends a payment order to the beneficiary's bank.
Structure 2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Part 5 - Miscellaneous Provisions
§ 47-4A-501. Variation by Agreement and Effect of Funds-Transfer System Rule
§ 47-4A-503. Injunction or Restraining Order With Respect to Funds Transfer
§ 47-4A-505. Preclusion of Objection to Debit of Customer's Account