Indiana Statutes
§ 26-1-4.1-206 — Transmission of payment order through funds-transfer or other communication system
Indiana § 26-1-4.1-206
This text of Indiana § 26-1-4.1-206 (Transmission of payment order through funds-transfer or other communication system) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Ind. Code § 26-1-4.1-206 (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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Legislative History
As added by P.L.189-1991, SEC.4.
Nearby Sections
15
§ 26-1-1-0.3
Certain security interests considered perfected§ 26-1-1-0.5
Status of certain security interests; conditions; lapsing of perfection;
filing of financing statements§ 26-1-1-101
Short title; application§ 26-1-1-104
Construction against implicit repeal§ 26-1-1-105
Repealed§ 26-1-1-106
Remedies to be liberally administered§ 26-1-1-108
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Bluebook (online)
Indiana § 26-1-4.1-206, Counsel Stack Legal Research, https://law.counselstack.com/statute/in/26-1-4.1-206.