California § 11206. 11206. (Added by Stats. 1990, Ch. 125, Sec. 2.)

California Statutes

§ 11206. — 11206. (Added by Stats. 1990, Ch. 125, Sec. 2.)

California § 11206.

Code COMCommercial Code - COM

Div. 11.DIVISION 11. FUNDS TRANSFERS

Ch. 2.CHAPTER 2. Issue and Acceptance of Payment Order

This text of California § 11206. (11206. (Added by Stats. 1990, Ch. 125, Sec. 2.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Commercial Code - COM Code § 11206. (2026).

Text

(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.

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(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.

Legislative History

Added by Stats. 1990, Ch. 125, Sec. 2.

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Bluebook (online)

California § 11206., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/COM/11206..