Montana Statutes
§ 30-4A-206 — Transmission Of Payment Order Through Funds-Transfer Or Other Communication System
Montana·Title 30 TRADE AND COMMERCE·Ch. 4A UNIFORM COMMERCIAL CODE FUNDS TRANSFERS·Part 2 Issue and Acceptance of Payment Order
30-4A-206 . Transmission of payment order through funds-transfer or other communication system.
(1)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 considered 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.
(2)This section applies to cancellations and amendments of payment orders to the same ex
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Montana § 30-4A-206 (Transmission Of Payment Order Through Funds-Transfer Or Other Communication System) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 202, Ch. 410, L. 1991.
Nearby Sections
15
§ 30-4A-101
Short Title§ 30-4A-102
Subject Matter§ 30-4A-103
Payment Order -- Definitions§ 30-4A-104
Funds Transfer -- Definitions§ 30-4A-105
Other Definitions§ 30-4A-106
Time Payment Order Is Received§ 30-4A-108
Relationship To Electronic Fund Transfer Act§ 30-4A-201
Security Procedure§ 30-4A-202
Authorized And Verified Payment Orders§ 30-4A-204
Refund Of Payment And Duty Of Customer To Report With Respect To Unauthorized Payment Order§ 30-4A-205
Erroneous Payment Orders§ 30-4A-207
Misdescription Of Beneficiary