MCL - Index of 174-1962-4A-3

NOTE: Dates reflect any modification to item, not necessarily a change in law.
Title Subject
174-1962-4A-3 PART 3 EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK (440.4801...440.4805)
Section 440.4801 Execution of payment order; “execution date” defined.
Section 440.4802 Receiving bank; acceptance of payment order pursuant to MCL 440.4709(1); obligations of bank to execute order; use of funds-transfer system; transmission by first-class mail or reasonable means; payment of charges for services and expenses.
Section 440.4803 Receiving bank; payment of sender's order pursuant to MCL 440.4902(3); effect of erroneous payment order; applicability of subsection (2); obligation of sender to pay payment order; recovery by issuer from beneficiary.
Section 440.4804 Notification from receiving bank of erroneously executed payment order; duties of sender; obligation to pay interest; recovery by bank prohibited.
Section 440.4805 Receiving bank; payment delay; interest; liability to originator for expenses resulting from improper execution; recovery of damages; failure to execute pursuant to express agreement; attorney fees; liability of bank under subsections (1) and (2) not varied by agreement.