Idaho § 28-4-632 VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE

Idaho Statutes

§ 28-4-632 — VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE

Idaho § 28-4-632

Title 28COMMERCIAL TRANSACTIONS

Part 6.FUNDS TRANSFERS

Ch. 4UNIFORM COMMERCIAL CODE — BANK DEPOSITS AND COLLECTIONS

This text of Idaho § 28-4-632 (VARIATION BY AGREEMENT AND EFFECT OF FUNDS-TRANSFER SYSTEM RULE) is published on Counsel Stack Legal Research, covering Idaho primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Idaho Code § 28-4-632 (2026).

Text

(1)Except as otherwise provided in this part, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party.

(2)"Funds-transfer system rule" means a rule of an association of banks:

(a)governing transmission of payment orders by means of a funds-transfer system of the association or rights and obligations with respect to those orders, or

(b)to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve bank, acting as an intermediary bank, sends a payment order to the beneficiary’s bank. Except as otherwise provided in this part, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule confl

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(1) Except as otherwise provided in this part, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party.
(2) "Funds-transfer system rule" means a rule of an association of banks:
(a) governing transmission of payment orders by means of a funds-transfer system of the association or rights and obligations with respect to those orders, or
(b) to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve bank, acting as an intermediary bank, sends a payment order to the beneficiary’s bank.
Except as otherwise provided in this part, a funds-transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this part and indirectly affects another party to the funds transfer who does not consent to the rule. A funds-transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in sections 28-4-629 (3), 28-4-630 (4), and 28-4-638 (3).