(a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section does not apply to a funds-transfer system of the Federal Reserve Banks.
(b) This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.
Structure Code of Alabama
Part 2 - Issue and Acceptance of Payment Order.
Section 7-4A-201 - Security Procedure.
Section 7-4A-202 - Authorized and Verified Payment Orders.
Section 7-4A-203 - Unenforceability of Certain Verified Payment Orders.
Section 7-4A-205 - Erroneous Payment Orders.
Section 7-4A-207 - Misdescription of Beneficiary.
Section 7-4A-208 - Misdescription of Intermediary Bank or Beneficiary's Bank.
Section 7-4A-209 - Acceptance of Payment Order.
Section 7-4A-210 - Rejection of Payment Order.
Section 7-4A-211 - Cancellation and Amendment of Payment Order.
Section 7-4A-212 - Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order.