New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 4A - Funds Transfers

Part 1 - SUBJECT MATTER AND DEFINITIONS

Section 55-4A-101 - Short title. - This article may be cited as the Uniform Commerical [Commercial]...

Section 55-4A-102 - Subject matter. - Except as otherwise provided in Section 55-4A-108 NMSA 1978, this...

Section 55-4A-103 - Payment order; definitions. - (a) In this article: (1) "payment order" means an instruction...

Section 55-4A-104 - Funds transfer; definitions. - In this article: (a) "funds transfer" means the series of...

Section 55-4A-105 - Other definitions. - (a) In this article: (1) "authorized account" means a deposit...

Section 55-4A-106 - Time payment order is received. - (a) The time of receipt of a payment order or...

Section 55-4A-107 - Federal reserve regulations and operating circulars. - Regulations of the board of governors of the federal reserve...

Section 55-4A-108 - Relationship to electronic fund transfer act. - (a) Except as provided in Subsection (b) of this section,...

Part 2 - ISSUE AND ACCEPTANCE OF PAYMENT ORDER

Section 55-4A-201 - Security procedure. - "Security procedure" means a procedure established by agreement of a...

Section 55-4A-202 - Authorized and verified payment orders. - (a) A payment order received by the receiving bank is...

Section 55-4A-203 - Unenforceability of certain verified payment orders. - (a) If an accepted payment order is not, under Section...

Section 55-4A-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...

Section 55-4A-205 - Erroneous payment orders. - (a) If an accepted payment order was transmitted pursuant to...

Section 55-4A-206 - Transmission of payment order through funds-transfer or other communication system. - (a) If a payment order addressed to a receiving bank...

Section 55-4A-207 - Misdescription of beneficiary. - (a) Subject to Subsection (b), if, in a payment order...

Section 55-4A-208 - Misdescription of intermediary bank or beneficiary's bank. - (a) This subsection applies to a payment order identifying an...

Section 55-4A-209 - Acceptance of payment order. - (a) Subject to Subsection (d), a receiving bank other than...

Section 55-4A-210 - Rejection of payment order. - (a) A payment order is rejected by the receiving bank...

Section 55-4A-211 - Cancellation and amendment of payment order. - (a) A communication of the sender of a payment order...

Section 55-4A-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

Section 55-4A-301 - Execution and execution date. - (a) A payment order is "executed" by the receiving bank...

Section 55-4A-302 - Obligations of receiving bank in execution of payment order. - (a) Except as provided in Subsections (b) through (d), if...

Section 55-4A-303 - Erroneous execution of payment order. - (a) A receiving bank that (i) executes the payment order...

Section 55-4A-304 - Duty of sender to report erroneously executed payment order. - If the sender of a payment order that is erroneously...

Section 55-4A-305 - Liability for late or improper execution or failure to execute payment order. - (a) If a funds transfer is completed but the execution...

Part 4 - PAYMENT

Section 55-4A-401 - Payment date. - "Payment date" of a payment order means the day on...

Section 55-4A-402 - Obligation of sender to pay receiving bank. - (a) This section is subject to Sections 55-4A-205 and 55-4A-207...

Section 55-4A-403 - Payment by sender to receiving bank. - (a) Payment of the sender's obligation under Section 55-4A-402 NMSA...

Section 55-4A-404 - Obligation of beneficiary's bank to pay and give notice to beneficiary. - (a) Subject to Sections 55-4A-211(e), 55-4A-405(d) and 55-4A-405(e) NMSA 1978,...

Section 55-4A-405 - Payment by beneficiary's bank to beneficiary. - (a) If the beneficiary's bank credits an account of the...

Section 55-4A-406 - Payment by originator to beneficiary; discharge of underlying obligation. - (a) Subject to Sections 55-4A-211(e), 55-4A-405(d) and 55-4A-405(e) NMSA 1978,...

Part 5 - MISCELLANEOUS PROVISIONS

Section 55-4A-501 - Variation by agreement and effect of funds-transfer system rule. - (a) Except as otherwise provided in this article, the rights...

Section 55-4A-502 - Creditor process served on receiving bank; set-off by beneficiary's bank. - (a) As used in this section, "creditor process" means levy,...

Section 55-4A-503 - Injunction or restraining order with respect to funds transfer. - For proper cause and in compliance with applicable law, a...

Section 55-4A-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...

Section 55-4A-505 - Preclusion of objection to debit of customer's account. - If a receiving bank has received payment from its customer...

Section 55-4A-506 - Rate of interest. - (a) If, under this article, a receiving bank is obliged...

Section 55-4A-507 - Choice of law. - (a) The following rules apply unless the affected parties otherwise...