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§ 4A201. Security procedure

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 4A2. Issue and Acceptance of Payment Order
13 Pa.C.S.A. § 4A201
§ 4A201. Security procedure
Currentness
“Security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of:
(1) verifying that a payment order or communication amending or canceling a payment order is that of the customer; or
(2) detecting error in the transmission or the content of the payment order or communication.
A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.

Credits

1992, July 9, P.L. 507, No. 97, § 15, effective in one year.
13 Pa.C.S.A. § 4A201, PA ST 13 Pa.C.S.A. § 4A201
Current through Act 11 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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