New York Laws
UCC - Uniform Commercial Code
Article 4-A - Funds Transfers

Part 1 - Subject Matter and Definitions

4-A-101 - Short Title. - This Article may be cited as uniform commercial code --...

4-A-102 - Subject Matter. - Except as otherwise provided in Section 4-A-108, this Article applies...

4-A-103 - Payment Order-Definitions. - (1) In this article: (a) "Payment order" means an instruction...

4-A-104 - Funds Transfer-Definitions. - (1) "Funds transfer" means the series of transactions, beginning with...

4-A-105 - Other Definitions. - (1) In this Article: (a) "Authorized account" means a deposit...

4-A-106 - Time Payment Order Is Received. - (1) The time of receipt of a payment order or...

4-A-107 - Federal Reserve Regulations and Operating Circulars. - Regulations of the Board of Governors of the Federal Reserve...

4-A-108 - Relationship to Electronic Fund Transfer Act. - (1) Except as provided in subsection (2) of this section,...

Part 2 - Issue and Acceptance of Payment Order

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

4-A-202 - Authorized and Verified Payment Orders. - (1) A payment order received by the receiving bank is...

4-A-203 - Unenforceability of Certain Verified Payment Orders. - (1) If an accepted payment order is not, under subsection...

4-A-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...

4-A-205 - Erroneous Payment Orders. - (1) If an accepted payment order was transmitted pursuant to...

4-A-206 - Transmission of Payment Order Through Funds-Transfer or Other Communication System. - (1) If a payment order addressed to a receiving bank...

4-A-207 - Misdescription of Beneficiary. - (1) Subject to subsection (2), if, in a payment order...

4-A-208 - Misdescription of Intermediary Bank or Beneficiary's Bank. - (1) This subsection applies to a payment order identifying an...

4-A-209 - Acceptance of Payment Order. - (1) Subject to subsection (4), a receiving bank other than...

4-A-210 - Rejection of Payment Order. - (1) A payment order is rejected by the receiving bank...

4-A-211 - Cancellation and Amendment of Payment Order. - (1) A communication of the sender of a payment order...

4-A-212 - Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order. - Unaccepted Payment Order. If a receiving bank fails to accept...

Part 3 - Execution of Sender's Payment Order by Receiving Bank

4-A-301 - Execution and Execution Date. - (1) A payment order is "executed" by the receiving bank...

4-A-302 - Obligations of Receiving Bank in Execution of Payment Order. - (1) Except as provided in subsections (2) through (4); if...

4-A-303 - Erroneous Execution of Payment Order. - (1) A receiving bank that (i) executes the payment order...

4-A-304 - Duty of Sender to Report Erroneously Executed Payment Order. - Order. If the sender of a payment order that is...

4-A-305 - Liability for Late or Improper Execution or Failure to Execute Payment Order. - (1) If a funds transfer is completed but execution of...

Part 4 - Payment

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

4-A-402 - Obligation of Sender to Pay Receiving Bank. - (1) This section is subject to Sections 4-A-205 and 4-A-207....

4-A-403 - Payment by Sender to Receiving Bank. - (1) Payment of the sender's obligation under Section 4-A-402 to...

4-A-404 - Obligation of Beneficiary's Bank to Pay and Give Notice to Beneficiary. - (1) Subject to subsection (5) of Section 4-A-211 and subsections...

4-A-405 - Payment by Beneficiary's Bank to Beneficiary. - (1) If the beneficiary's bank credits an account of the...

4-A-406 - Payment by Originator to Beneficiary; Discharge of Underlying Obligation. - (1) Subject to subsection (5) of Section 4-A-211 and subsections...

Part 5 - Miscellaneous Provisions

4-A-501 - Variation by Agreement and Effect of Funds-Transfer System Rule. - (1) Except as otherwise provided in this Article, the rights...

4-A-502 - Creditor Process Served on Receiving Bank; Set Off by Beneficiary's Bank. - (1) As used in this section, "creditor process" means levy,...

4-A-503 - Injunction or Restraining Order With Respect to Funds Transfer. - Transfer. For proper cause and in compliance with applicable law,...

4-A-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...

4-A-505 - Preclusion of Objection to Debit of Customer's Account. - Account. If a receiving bank has received payment from its...

4-A-506 - Rate of Interest. - (1) If, under this Article, a receiving bank is obliged...

4-A-507 - Choice of Law. - (1) The following rules apply unless the affected parties otherwise...