Minnesota § 336.4A-104 336.4A-104 FUNDS TRANSFER-DEFINITIONS.

Minnesota Statutes

§ 336.4A-104 — 336.4A-104 FUNDS TRANSFER-DEFINITIONS.

Minnesota § 336.4A-104

PartTRADE REGULATIONS, CONSUMER PROTECTION

Ch. 336UNIFORM COMMERCIAL CODE

This text of Minnesota § 336.4A-104 (336.4A-104 FUNDS TRANSFER-DEFINITIONS.) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 336.4A-104 (2026).

Text

In this article:

(a)"Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.

(b)"Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank.

(c)"Originator" means the sender of the first payment order in a funds transfer.

(d)"Originator's bank" means (i) the receiving bank to which the payment order of the originator is issued if the

Free access — add to your briefcase to read the full text and ask questions with AI

In this article:
(a) "Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.
(b) "Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank.
(c) "Originator" means the sender of the first payment order in a funds transfer.
(d) "Originator's bank" means (i) the receiving bank to which the payment order of the originator is issued if the originator is not a bank, or (ii) the originator if the originator is a bank.