Utah § 70A-4a-204 Refund of payment and duty of customer to report with respect to unauthorized payment order.

Utah Statutes

§ 70A-4a-204 — Refund of payment and duty of customer to report with respect to unauthorized payment order.

Utah § 70A-4a-204

Title 70AUniform Commercial Code

Ch. 70A-4aUniform Commercial Code - Funds Transfers

Part 70A-4a-2Issuance and Acceptance of Payment Order

This text of Utah § 70A-4a-204 (Refund of payment and duty of customer to report with respect to unauthorized payment order.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 70A-4a-204 (2026).

Text

(1)(1)(a) If a receiving bank accepts a payment order issued in the name of its customer as sender which is not authorized and not effective as the order of the customer under Section 70A-4a-202, or not enforceable, in whole or in part, against the customer under Section 70A-4a-203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment, and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund.

(1)(b) However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevan

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(1) (1)(a) If a receiving bank accepts a payment order issued in the name of its customer as sender which is not authorized and not effective as the order of the customer under Section 70A-4a-202, or not enforceable, in whole or in part, against the customer under Section 70A-4a-203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment, and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund.
(1)(b) However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the date the customer received notification from the bank that the order was accepted or that the customer's account was debited with respect to the order.
(1)(c) The bank is not entitled to any recovery from the customer on account of a failure by the customer to give notification as stated in this section.
(2) Reasonable time under Subsection (1) may be fixed by agreement as stated in Subsection 70A-1a-302(2), but the obligation of a receiving bank to refund payment as stated in Subsection (1) may not otherwise be varied by agreement.