§ 4A206. Transmission of payment order through funds-transfer or other communication system
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 13 Pa.C.S.A. Commercial Code
13 Pa.C.S.A. § 4A206
§ 4A206. Transmission of payment order through funds-transfer or other communication system
(a) General rule.--If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section does not apply to a funds-transfer system of the Federal Reserve banks.
Credits
1992, July 9, P.L. 507, No. 97, § 15, effective in one year.
13 Pa.C.S.A. § 4A206, PA ST 13 Pa.C.S.A. § 4A206
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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