Montana § 30-4A-304 Duty Of Sender To Report Erroneously Executed Payment Order

Montana Statutes

§ 30-4A-304 — Duty Of Sender To Report Erroneously Executed Payment Order

Montana § 30-4A-304

Title 30TRADE AND COMMERCE

Ch. 4AUNIFORM COMMERCIAL CODE FUNDS TRANSFERS

Part 3Execution of Sender's Payment Order by Receiving Bank

This text of Montana § 30-4A-304 (Duty Of Sender To Report Erroneously Executed Payment Order) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 30-4A-304 (2026).

Text

30-4A-304 . Duty of sender to report erroneously executed payment order. If the sender of a payment order that is erroneously executed as stated in 30-4A-303 receives notification from the receiving bank that the order was executed or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information available to the sender, that the order was erroneously executed and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the notification from the bank was received by the sender. If the sender fails to perform that duty, the bank is not obliged to pay interest on any amount refundable to the sender under 30-4A-402 (4) for the period before the bank learns of the ex

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30-4A-304 . Duty of sender to report erroneously executed payment order. If the sender of a payment order that is erroneously executed as stated in 30-4A-303 receives notification from the receiving bank that the order was executed or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information available to the sender, that the order was erroneously executed and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the notification from the bank was received by the sender. If the sender fails to perform that duty, the bank is not obliged to pay interest on any amount refundable to the sender under 30-4A-402 (4) for the period before the bank learns of the execution error. The bank is not entitled to any recovery from the sender on account of a failure by the sender to perform the duty stated in this section.