2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 4A - Funds Transfers

Part 1 - General Provisions and Definitions

§ 47-4A-101. Short Title - This chapter may be cited as Uniform Commercial Code —...

§ 47-4A-102. Subject Matter - Except as otherwise provided in § 47-4A-108, this chapter applies...

§ 47-4A-103. Payment Order — Definitions - The instruction does not state a condition to payment to...

§ 47-4A-104. Funds Transfer — Definitions - In this chapter: The receiving bank to which the payment...

§ 47-4A-105. Other Definitions - Acceptance” § 47-4A-209 “Beneficiary” § 47-4A-103 “Beneficiary's bank” § 47-4A-103...

§ 47-4A-107. Federal Reserve Regulations and Operating Circulars - Regulations of the board of governors of the federal reserve...

Part 2 - Issue and Acceptance of Payment Order

§ 47-4A-201. Security Procedure - Security procedure” means a procedure established by agreement of a...

§ 47-4A-202. Authorized and Verified Payment Orders - The security procedure is a commercially reasonable method of providing...

§ 47-4A-203. Unenforceability of Certain Verified Payment Orders - Entrusted with duties to act for the receiving bank with...

§ 47-4A-204. Refund of Payment and Duty of Customer to Report With Respect to Unauthorized Payment Order - the bank shall refund any payment of the payment order...

§ 47-4A-205. Erroneous Payment Orders - The following rules apply: The sender has a duty to...

§ 47-4A-207. Misdescription of Beneficiary - The following rules apply: A payment order described in subsection...

§ 47-4A-209. Acceptance of Payment Order - If notice of rejection is received by the sender after...

§ 47-4A-210. Rejection of Payment Order - Any means complying with the agreement is reasonable; and Any...

§ 47-4A-211. Cancellation and Amendment of Payment Order - If the payment order is cancelled or amended, the beneficiary's...

§ 47-4A-212. Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order - If a receiving bank fails to accept a payment order...

Part 3 - Execution of Sender's Payment Order by Receiving Bank

§ 47-4A-302. Obligations of Receiving Bank in Execution of Payment Order - If the originator's bank issues a payment order to an...

§ 47-4A-303. Erroneous Execution of Payment Order - is entitled to payment of the amount of the sender's...

§ 47-4A-304. Duty of Sender to Report Erroneously Executed Payment Order - If the sender of a payment order that is erroneously...

§ 47-4A-305. Liability for Late or Improper Execution or Failure to Execute Payment Order - the bank is liable to the originator for its expenses...

Part 4 - Payment

§ 47-4A-401. Payment Date - Payment date” of a payment order means the day on...

§ 47-4A-403. Payment by Sender to Receiving Bank - Payment occurs when the credit is withdrawn or, if not...

§ 47-4A-405. Payment by Beneficiary's Bank to Beneficiary - If the beneficiary is obliged to refund payment to the...

§ 47-4A-406. Payment by Originator to Beneficiary — Discharge of Underlying Obligation - If payment by the originator does not result in discharge...

Part 5 - Miscellaneous Provisions

§ 47-4A-501. Variation by Agreement and Effect of Funds-Transfer System Rule - Except as otherwise provided in this chapter, a funds-transfer system...

§ 47-4A-503. Injunction or Restraining Order With Respect to Funds Transfer - For proper cause and in compliance with applicable law, a...

§ 47-4A-505. Preclusion of Objection to Debit of Customer's Account - If a receiving bank has received payment from its customer...

§ 47-4A-506. Rate of Interest - By agreement of the sender and receiving bank; or By...

§ 47-4A-507. Choice of Law - A choice of law made pursuant to subdivision (c)(i) is...