Ohio § 1304.67 Liability and duty of receiving bank regarding unaccepted payment order - UCC 4A-212

Ohio Statutes

§ 1304.67 — Liability and duty of receiving bank regarding unaccepted payment order - UCC 4A-212

Ohio § 1304.67

Title 13Commercial Transactions

Ch. 1304Bank Deposits And Collections

This text of Ohio § 1304.67 (Liability and duty of receiving bank regarding unaccepted payment order - UCC 4A-212) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 1304.67 (2026).

Text

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 sections1304.51to1304.85of the Revised Code, 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 those sections or by express agreement. Liability based on acceptance arises only when acceptance occurs as provided in section1304.64of the Revised Code, and liability is limited to that provided in sections1304.51to1304.85of the Revised Code. 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 fund

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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 sections1304.51to1304.85of the Revised Code, 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 those sections or by express agreement. Liability based on acceptance arises only when acceptance occurs as provided in section1304.64of the Revised Code, and liability is limited to that provided in sections1304.51to1304.85of the Revised Code. 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 sections1304.51to1304.85of the Revised Code or by express agreement.