§ 6A-4.1-206. Transmission of payment order through funds — Transfer or other communication system.
(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.
History of Section.P.L. 1991, ch. 189, § 1.
Structure Rhode Island General Laws
Title 6A - Uniform Commercial Code
Chapter 6A-4.1 - Funds Transfers
Part 2 - Issue and Acceptance of Payment Order
Section 6A-4.1-201. - Security procedure.
Section 6A-4.1-202. - Authorized and verified payment orders.
Section 6A-4.1-203. - Unenforceability of certain verified payment orders.
Section 6A-4.1-205. - Erroneous payment orders.
Section 6A-4.1-207. - Misdescription of beneficiary.
Section 6A-4.1-208. - Misdescription of intermediary bank or beneficiary’s bank.
Section 6A-4.1-209. - Acceptance of payment order.
Section 6A-4.1-210. - Rejection of payment order.
Section 6A-4.1-211. - Cancellation and amendment of payment order.
Section 6A-4.1-212. - Liability and duty of receiving bank regarding unaccepted payment order.