United States — Kansas
Kansas Statutes § 84-4a-201 Security procedure.
1 provisions
This provision defines “security procedure” for payment orders and related communications.
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United States — Kansas Statutes
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United States — Kansas
Kansas Statutes § 84-4a-202 Authorized and verified payment orders.
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This section says when a payment order counts as authorized or effective for a customer, and it limits when a bank must follow customer instructions about security procedures.
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Kansas Statutes § 84-4a-203 Unenforceability of certain verified payment orders.
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A receiving bank may limit enforcement or retention of payment by written agreement, and it is not entitled to enforce or keep payment if the customer proves the payment order was not caused by certain persons linked to the customer or its security procedures.
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Kansas Statutes § 84-4a-204 Refund of payment and duty of customer to report with respect to unauthorized payment order.
1 provisions
A receiving bank must refund unauthorized or unenforceable payment-order payments and pay interest, unless the customer failed to act with ordinary care and notify the bank in time.
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Kansas Statutes § 84-4a-205 Erroneous payment orders.
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If an accepted payment order was sent under an error-detection security procedure and was wrong in certain ways, the sender may not have to pay it; the receiving bank may recover amounts from the beneficiary. If the sender learns of the issue after notice from the bank, the sender must act with ordinary care and tell t
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Kansas Statutes § 84-4a-206 Transmission of payment order through funds transfer or other communication system.
1 provisions
If a payment order is sent through a funds-transfer or other communication system, that system is treated as the sender’s agent for transmitting it to the bank, and the sender’s terms control if there is a mismatch; the section also covers cancellations and amendments.
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Kansas Statutes § 84-4a-207 Misdescription of beneficiary.
1 provisions
This provision says what happens when a payment order misidentifies the beneficiary by name, number, or other identification.
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Kansas Statutes § 84-4a-208 Misdescription of intermediary bank or beneficiary's bank.
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This section lets a receiving bank rely on a number, and in some cases a name, to identify the intermediary or beneficiary bank, and requires the sender to cover the receiving bank’s resulting losses and expenses.
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Kansas Statutes § 84-4a-209 Acceptance of payment order.
1 provisions
This section says when a bank accepts a payment order and when interest or recovery rights can arise if acceptance is delayed or a payment order is cancelled.
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Kansas Statutes § 84-4a-210 Rejection of payment order.
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A receiving bank may reject a payment order by giving notice to the sender, and in one failed-execution scenario it must pay interest to the sender.
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Kansas Statutes § 84-4a-211 Cancellation and amendment of payment order.
1 provisions
A sender may try to cancel or amend a payment order, but effectiveness depends on timing, verification, bank agreement, and other conditions.
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Kansas Statutes § 84-4a-212 Liability and duty of receiving bank regarding unaccepted payment order.
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A receiving bank must accept a payment order only if it has expressly agreed to do so; otherwise it has no duty to accept or act on the order before acceptance, except as the article or express agreement provides.
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Kansas Statutes § 84-4a-301 Execution and execution date.
1 provisions
Defines when a payment order is executed and how its execution date is determined.
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Kansas Statutes § 84-4a-302 Obligations of receiving bank in execution of payment order.
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A receiving bank that accepts a payment order must carry it out according to the sender’s instructions, subject to listed exceptions.
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Kansas Statutes § 84-4a-303 Erroneous execution of payment order.
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A receiving bank may be entitled to payment or restitution-related recovery when it misexecutes a payment order, and in some cases the sender is not required to pay the mistakenly executed order.
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Kansas Statutes § 84-4a-304 Duty of sender to report erroneously executed payment order.
1 provisions
If a sender learns a payment order was executed in error, the sender must use ordinary care to confirm the error and notify the bank within 90 days.
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Kansas Statutes § 84-4a-305 Liability for late or improper execution or failure to execute payment order.
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A receiving bank may have to pay interest, expenses, damages, and reasonable attorney fees when it improperly executes or fails to execute a payment order.
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Kansas Statutes § 84-4a-401 Payment date.
1 provisions
This provision defines when a payment order’s payment date occurs.
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Kansas Statutes § 84-4a-402 Obligation of sender to pay receiving bank.
1 provisions
This section says when a sender must pay a bank for a payment order, when payment is due, when the duty is excused, and when refunds or interest are required.
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Kansas Statutes § 84-4a-403 Payment by sender to receiving bank.
1 provisions
This provision says when a sender’s payment obligation to a receiving bank is treated as paid, depending on how settlement happens.
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