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Article 1. Subject Matter and Definitions.
Sec. 45.14.101. Short title. - This chapter may be cited as Uniform Commercial Code -...
Sec. 45.14.102. Subject matter. - Except as otherwise provided in AS 45.14.108, this chapter applies...
Sec. 45.14.103. Payment order; definitions. - (a) In this chapter, (1) “payment order” means an instruction...
Sec. 45.14.104. Funds transfer; definitions. - In this chapter, (1) “funds transfer” means the series of...
Sec. 45.14.105. Other definitions. - (a) In this chapter, (1) “authorized account” means a deposit...
Sec. 45.14.106. Time payment order is received. - (a) The time of receipt of a payment order or...
Sec. 45.14.107. Federal reserve regulations and operating circulars. - Regulations of the Board of Governors of the Federal Reserve...
Sec. 45.14.108. Relationship to federal law. - (a) Except as provided in (b) of this section, this...
Article 2. Issue and Acceptance of Payment Order.
Sec. 45.14.201. Security procedure. - (a) In this chapter, “security procedure” means a procedure established...
Sec. 45.14.202. Authorized and verified payment orders. - (a) A payment order received by the receiving bank is...
Sec. 45.14.203. Unenforceability of certain verified payment orders. - (a) If an accepted payment order is not, under AS...
Sec. 45.14.204. Refund of payment and duty of customer to report with respect to unauthorized payment order. - (a) If a receiving bank accepts a payment order issued...
Sec. 45.14.205. Erroneous payment orders. - (a) If an accepted payment order was transmitted under a...
Sec. 45.14.206. Transmission of payment order through funds-transfer or other communication system. - (a) If a payment order addressed to a receiving bank...
Sec. 45.14.207. Misdescription of beneficiary. - (a) Subject to (b) of this section, if, in a...
Sec. 45.14.208. Misdescription of intermediary bank or beneficiary's bank. - (a) The following rules in this subsection apply to a...
Sec. 45.14.209. Acceptance of payment order. - (a) Subject to (d) of this section, a receiving bank...
Sec. 45.14.210. Rejection of payment order. - (a) A payment order is rejected by the receiving bank...
Sec. 45.14.211. Cancellation and amendment of payment order. - (a) A communication of the sender of a payment order...
Sec. 45.14.212. Liability and duty of receiving bank regarding unaccepted payment order. - If a receiving bank fails to accept a payment order...
Article 3. Execution of Sender's Payment Order by Receiving Bank.
Sec. 45.14.301. Execution and execution date. - (a) A payment order is executed by the receiving bank...
Sec. 45.14.302. Obligations of receiving bank in execution of payment order. - (a) Except as provided in (b) - (d) of this...
Sec. 45.14.303. Erroneous execution of payment order. - (a) If a receiving bank executes the payment order of...
Sec. 45.14.304. Duty of sender to report erroneously executed payment order. - If the sender of a payment order that is erroneously...
Sec. 45.14.305. Liability for late or improper execution or failure to execute payment order. - (a) If a funds transfer is completed but execution of...
Article 4. Payment.
Sec. 45.14.401. Payment date. - Payment date” of a payment order means the day on...
Sec. 45.14.402. Obligation of sender to pay receiving bank. - (a) This section is subject to AS 45.14.205 and 45.14.207....
Sec. 45.14.403. Payment by sender to receiving bank. - (a) Payment of the sender's obligation under AS 45.14.402 to...
Sec. 45.14.404. Obligation of beneficiary's bank to pay and give notice to beneficiary. - (a) Subject to AS 45.14.211(f) and 45.14.405(d) and (e), if...
Sec. 45.14.405. Payment by beneficiary's bank to beneficiary. - (a) If the beneficiary's bank credits an account of the...
Sec. 45.14.406. Payment by originator to beneficiary; discharge of underlying obligation. - (a) Subject to AS 45.14.211(f) and 45.14.405(d) and (e), the...
Article 5. Miscellaneous Provisions.
Sec. 45.14.501. Variation by agreement and effect of funds-transfer system rule. - (a) Except as otherwise provided in this chapter, the rights...
Sec. 45.14.502. Creditor process served on receiving bank; setoff by beneficiary's bank. - (a) This subsection applies to creditor process with respect to...
Sec. 45.14.503. Injunction or restraining order with respect to funds transfer. - (a) For proper cause and in compliance with applicable law,...
Sec. 45.14.504. Order in which items and payment orders may be charged to account; order of withdrawals from account. - (a) If a receiving bank has received more than one...
Sec. 45.14.505. Preclusion of objection to debit of customer's account. - If a receiving bank has received payment from its customer...
Sec. 45.14.506. Rate of interest. - (a) If, under this chapter, a receiving bank is obliged...
Sec. 45.14.507. Choice of law. - (a) The following rules apply unless the affected parties otherwise...