North Dakota § 41-04.1-20 (4A-212) Liability and duty of receiving bank regarding unaccepted payment order

North Dakota Statutes

§ 41-04.1-20 — (4A-212) Liability and duty of receiving bank regarding unaccepted payment order

North Dakota § 41-04.1-20

Title 41Uniform Commercial Code

Ch. 41-04.1Funds Transfers

This text of North Dakota § 41-04.1-20 ((4A-212) Liability and duty of receiving bank regarding unaccepted payment order) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 41-04.1-20 (2026).

Text

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 section 41-04.1-17, 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 transfer, and the bank owes no duty to any
party to the funds trans

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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 section 41-04.1-17, 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 transfer, and the bank owes no duty to any
party to the funds transfer except as provided in this chapter or by express agreement.