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Georgia State Code
Title      11
Chapter      4A  
Section Navigation   101 ... 202         203 ... 212   
   301 ... 405       406 ... 507     
Section<<< 203 204 205 206 207 208 209 210 211 212 >>>  
Title 11, Chapter 4A, Section 206 (11-4A-206)
Transmission of payment order through funds-transfer or other communication system.

(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 Code section does not apply to a funds-transfer system of the Federal Reserve Banks.

(b) This Code section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.

Thursday August 28 15:43 CDT


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