Florida Statutes
Title XXXIX - Commercial Relations
Chapter 670 - Uniform Commercial Code: Funds Transfers

Part I - Subject Matter and Definitions (Ss. 670.101-670.108)

670.101 - Short title. - History.—s. 1, ch. 91-70.

670.102 - Subject matter. - History.—s. 1, ch. 91-70.

670.103 - Payment order: definitions. - (1) In this chapter, the term: (a) “Beneficiary” means the...

670.104 - Funds transfer: definitions. - (1) “Funds transfer” means the series of transactions, beginning with...

670.105 - Other definitions. - (1) In this chapter, the term: (a) “Authorized account” means...

670.106 - Time payment order is received. - (1) The time of receipt of a payment order or...

670.107 - Federal Reserve regulations and operating circulars. - History.—s. 1, ch. 91-70.

670.108 - Relationship to Electronic Fund Transfer Act. - (1) Except as provided in subsection (2), this chapter does...

Part II - Issue and Acceptance of Payment Order (Ss. 670.201-670.212)

670.201 - Security procedure. - (1) Verifying that a payment order or communication amending or...

670.202 - Authorized and verified payment orders. - (1) A payment order received by the receiving bank is...

670.203 - Unenforceability of certain verified payment orders. - (1) If an accepted payment order is not, under s....

670.204 - Refund of payment and duty of customer to report with respect to unauthorized payment order. - (1) If a receiving bank accepts a payment order issued...

670.205 - Erroneous payment orders. - (1) If an accepted payment order was transmitted pursuant to...

670.206 - Transmission of payment order through funds-transfer system or other communication system. - (1) If a payment order addressed to a receiving bank...

670.207 - Misdescription of beneficiary. - (1) Subject to subsection (2), if, in a payment order...

670.208 - Misdescription of intermediary bank or beneficiary’s bank. - (1) This subsection applies to a payment order identifying an...

670.209 - Acceptance of payment order. - (1) Subject to subsection (4), a receiving bank other than...

670.21 - Rejection of payment order. - (1) A payment order is rejected by the receiving bank...

670.211 - Cancellation and amendment of payment order. - (1) A communication of the sender of a payment order...

670.212 - Liability and duty of receiving bank regarding unaccepted payment order. - History.—s. 1, ch. 91-70.

Part III - Execution of Sender’s Payment Order by Receiving Bank (Ss. 670.301-670.305)

670.301 - Execution and execution date. - (1) A payment order is “executed” by the receiving bank...

670.302 - Obligations of receiving bank in execution of payment order. - (1) Except as provided in subsections (2)-(4), if the receiving...

670.303 - Erroneous execution of payment order. - (1) A receiving bank that executes the payment order of...

670.304 - Duty of sender to report erroneously executed payment order. - History.—s. 1, ch. 91-70.

670.305 - Liability for late or improper execution or failure to execute payment order. - (1) If a funds transfer is completed but execution of...

Part IV - Payment (Ss. 670.401-670.406)

670.401 - Payment date. - History.—s. 1, ch. 91-70.

670.402 - Obligation of sender to pay receiving bank. - (1) This section is subject to ss. 670.205 and 670.207....

670.403 - Payment by sender to receiving bank. - (1) Payment of the sender’s obligation under s. 670.402 to...

670.404 - Obligation of beneficiary’s bank to pay and give notice to beneficiary. - (1) Subject to ss. 670.211(5) and 670.405(4) and (5), if...

670.405 - Payment by beneficiary’s bank to beneficiary. - (1) If the beneficiary’s bank credits an account of the...

670.406 - Payment by originator to beneficiary; discharge of underlying obligation. - (1) Subject to ss. 670.211(5) and 670.405(4) and (5), the...

Part V - Miscellaneous Provisions (Ss. 670.501-670.507)

670.501 - Variation by agreement and effect of funds-transfer system rule. - (1) Except as otherwise provided in this chapter, the rights...

670.502 - Creditor process served on receiving bank; set-off by beneficiary’s bank. - (1) As used in this section, the term “creditor process”...

670.503 - Injunction or restraining order with respect to funds transfer. - (1) A person from issuing a payment order to initiate...

670.504 - Order in which items and payment orders may be charged to account; order of withdrawals from account. - (1) If a receiving bank has received more than one...

670.505 - Preclusion of objection to debit of customer’s account. - History.—s. 1, ch. 91-70.

670.506 - Rate of interest. - (1) If, under this chapter, a receiving bank is obliged...

670.507 - Choice of law. - (1) The following rules apply unless the affected parties otherwise...