Arkansas Code
Subtitle 1 - Uniform Commercial Code
Chapter 4A - Funds Transfers

Part 1 - Subject Matter and Definitions

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

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

§ 4-4A-103. Payment order — Definitions - (a) In this Chapter: (1) “Payment order” means an instruction...

§ 4-4A-104. Funds transfer — Definitions - In this Chapter: (a) “Funds transfer” means the series of...

§ 4-4A-105. Other definitions - (a) In this Chapter: (1) “Authorized account” means a deposit...

§ 4-4A-106. Time payment order is received - (a) The time of receipt of a payment order or...

§ 4-4A-107. Federal Reserve regulations and operating circulars - Regulations of the Board of Governors of the Federal Reserve...

§ 4-4A-108. Relationship to Electronic Fund Transfer Act - (a) Except as provided in subsection (b), this chapter does...

Part 2 - Issue and Acceptance of Payment Order

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

§ 4-4A-202. Authorized and verified payment orders - (a) A payment order received by the receiving bank is...

§ 4-4A-203. Unenforceability of certain verified payment orders - (a) If an accepted payment order is not, under §...

§ 4-4A-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...

§ 4-4A-205. Erroneous payment orders - (a) If an accepted payment order was transmitted pursuant to...

§ 4-4A-206. Transmission of payment order through funds-transfer or other communication system - (a) If a payment order addressed to a receiving bank...

§ 4-4A-207. Misdescription of beneficiary - (a) Subject to subsection (b), if, in a payment order...

§ 4-4A-208. Misdescription of intermediary bank or beneficiary's bank - (a) This subsection applies to a payment order identifying an...

§ 4-4A-209. Acceptance of payment order - (a) Subject to subsection (d), a receiving bank other than...

§ 4-4A-210. Rejection of payment order - (a) A payment order is rejected by the receiving bank...

§ 4-4A-211. Cancellation and amendment of payment order - (a) A communication of the sender of a payment order...

§ 4-4A-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

§ 4-4A-301. Execution and execution date - (a) A payment order is “executed” by the receiving bank...

§ 4-4A-302. Obligations of receiving bank in execution of payment order - (a) Except as provided in subsections (b) through (d), if...

§ 4-4A-303. Erroneous execution of payment order - (a) A receiving bank that (i) executes the payment order...

§ 4-4A-304. Duty of sender to report erroneously executed payment order - If the sender of a payment order that is erroneously...

§ 4-4A-305. Liability for late or improper execution or failure to execute payment order - (a) If a funds transfer is completed but execution of...

Part 4 - Payment

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

§ 4-4A-402. Obligation of sender to pay receiving bank - (a) This section is subject to §§ 4-4A-205 and 4-4A-207....

§ 4-4A-403. Payment by sender to receiving bank - (a) Payment of the sender's obligation under § 4-4A-402 to...

§ 4-4A-404. Obligation of beneficiary's bank to pay and give notice to beneficiary - (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), if a...

§ 4-4A-405. Payment by beneficiary's bank to beneficiary - (a) If the beneficiary's bank credits an account of the...

§ 4-4A-406. Payment by originator to beneficiary — Discharge of underlying obligation - (a) Subject to §§ 4-4A-211(e), 4-4A-405(d), and 4-4A-405(e), the originator...

Part 5 - Miscellaneous Provisions

§ 4-4A-501. Variation by agreement and effect of funds-transfer system rule - (a) Except as otherwise provided in this chapter, the rights...

§ 4-4A-502. Creditor process served on receiving bank — Setoff by beneficiary's bank - (a) As used in this section, “creditor process” means levy,...

§ 4-4A-503. Injunction or restraining order with respect to funds transfer - For proper cause and in compliance with applicable law, a...

§ 4-4A-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...

§ 4-4A-505. Preclusion of objection to debit of customer's account - If a receiving bank has received payment from its customer...

§ 4-4A-506. Rate of interest - (a) If, under this chapter, a receiving bank is obliged...

§ 4-4A-507. Choice of law - (a) The following rules apply unless the affected parties otherwise...