§ 4A-304. Duty of sender to report erroneously executed payment order
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 4A-304
§ 4A-304. Duty of sender to report erroneously executed payment order
(a) If the sender of a payment order that is erroneously executed as stated in § 4A-303 of this subtitle receives notification from the receiving bank that the order was executed or that the sender's account was debited with respect to the order, the sender has a duty to exercise ordinary care to determine, on the basis of information available to the sender, that the order was erroneously executed and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the notification from the bank was received by the sender.
Credits
Added by Acts 1991, c. 548, § 1, eff. July 1, 1991.
MD Code, Commercial Law, § 4A-304, MD COML § 4A-304
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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