United States — Louisiana Act or statute

United States — Louisiana legislation

RS 10:4A-206

If a payment order for a receiving bank is sent through a funds-transfer or similar third-party system, the system is treated as the sender’s agent for transmission purposes.

communication systemsfunds transferpayment orders

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“If a payment order for a receiving bank is sent through a funds-transfer or similar third-party system, the system is treated as the sender’s agent for transmission purposes.”

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RS 10:4A-206

If a payment order for a receiving bank is sent through a funds-transfer or similar third-party system, the system is treated as the sender’s agent for transmission purposes.

Section 10:4A-206

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§ 10:4A-206RS 10:4A-206Provision

If a payment order for a receiving bank is sent through a funds-transfer or similar third-party system, the system is treated as the sender’s agent for transmission purposes.

§4A-206. Transmission of payment order through funds-transfer or other communication (a) 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. (b) This Section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders. Added by Acts 1990, No. 1079, §4, eff. Sept. 1, 1990.
Section 10:4A-206Verify source

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