Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 4A2 - Issue and Acceptance of Payment Order
Section 4A201 - Security procedure

"Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of:
(1) verifying that a payment order or communication amending or canceling a payment order is that of the customer; or
(2) detecting error in the transmission or the content of the payment order or communication.
A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.

Cross References. Section 4A201 is referred to in section 4A105 of this title.

Structure Pennsylvania Consolidated & Unconsolidated Statutes