Utah Statutes
§ 70A-4a-501 — Variation by agreement and effect of funds transfer system rule.
Utah·Title 70A Uniform Commercial Code·Ch. 70A-4a Uniform Commercial Code - Funds Transfers·Part 70A-4a-5 Miscellaneous Provisions
(1)Except as otherwise provided in this chapter, rights and obligations of a party to a funds transfer may be varied by agreement of the affected party.
(2)(2)(a) "Funds transfer system rule" means a rule of an association of banks:
(2)(a)(i) governing transmission of payment orders by means of a funds transfer system of the association or rights and obligations with respect to those orders; or
(2)(a)(ii) to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a Federal Reserve Bank, acting as an intermediary bank, sends a payment order to the beneficiary's bank.
(2)(b) Except as otherwise provided in this chapter, a funds transfer system rule governing rights and obligations between participating banks using the system may be eff
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Utah § 70A-4a-501 (Variation by agreement and effect of funds transfer system rule.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Chapter 237, 1993 General Session
Nearby Sections
15
§ 70A-10-101
Effective date.§ 70A-10-102
Specific repealer -- Provision for transition.§ 70A-10-103
General repealer.§ 70A-10-104
Laws not repealed.§ 70A-1a-101
Title.§ 70A-1a-102
Scope of chapter.§ 70A-1a-104
Construction against implied repeal.§ 70A-1a-105
Severability.§ 70A-1a-106
Use of singular and plural -- Gender.§ 70A-1a-107
Section captions.§ 70A-1a-201
General definitions.§ 70A-1a-202
Notice -- Knowledge.§ 70A-1a-203
Lease distinguished from security interest.