New Mexico § 55-4A-206 Transmission of payment order through funds-transfer

New Mexico Statutes

§ 55-4A-206 — Transmission of payment order through funds-transfer

New Mexico § 55-4A-206

Ch. 55Uniform Commercial Code

Art. 4AFunds Transfers

This text of New Mexico § 55-4A-206 (Transmission of payment order through funds-transfer) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 55-4A-206 (2026).

Text

or other communication system.

(a)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 deemed 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.

(b)This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.

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or other communication system. (a) 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 deemed 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. (b) This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.