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§ 4A505. Preclusion of objection to debit of customer's account

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 13 Pa.C.S.A. Commercial Code (Refs & Annos)
Division 4a. Funds Transfers (Refs & Annos)
Chapter 4A5. Miscellaneous Provisions
13 Pa.C.S.A. § 4A505
§ 4A505. Preclusion of objection to debit of customer's account
If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer.

Credits

1992, July 9, P.L. 507, No. 97, § 15, effective in one year.
13 Pa.C.S.A. § 4A505, PA ST 13 Pa.C.S.A. § 4A505
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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