Montana Statutes
§ 30-4A-212 — Liability And Duty Of Receiving Bank Regarding Unaccepted Payment Order
Montana·Title 30 TRADE AND COMMERCE·Ch. 4A UNIFORM COMMERCIAL CODE FUNDS TRANSFERS·Part 2 Issue and Acceptance of Payment Order
30-4A-212 . Liability and duty of receiving bank regarding unaccepted payment order. If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or in this chapter but does not otherwise have any duty to accept a payment order or, before acceptance, to take any action or refrain from taking action with respect to the order except as provided in this chapter or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in 30-4A-209 , and liability is limited to that provided in this chapter. A receiving bank is not the agent of the sender or beneficiary of the payment order it accepts or of any other party to the funds transf
Free access — add to your briefcase to read the full text and ask questions with AI
Montana § 30-4A-212 (Liability And Duty Of Receiving Bank Regarding Unaccepted Payment Order) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
En. Sec. 208, 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