Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 4A. · Article 4A. FUNDS TRANSFERS · Part 2. ISSUE AND ACCEPTANCE OF PAYMENT ORDER

11-4A-206. Transmission of payment order through funds-transfer or other communication system.

Active

Current through: Including Acts of the 2025 Regular Session of the General Assembly.

(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.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-4A-206, enacted by Ga. L. 1992, p. 2685, § 4; Ga. L. 2002, p. 415, § 11.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-2022-pdf.pdf, Volume V9, 2022 edition, pages 551 to 552; merge action: carried; file SHA-256 ad397fccbf21.

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