CHAPTER 3. Execution of Sender’s Payment Order by Receiving Bank

Chapter 3 added by Stats. 1990, Ch. 125, Sec. 2.

§§ 11301–11305 · 5 sections

• § 11301 (a) A payment order is “executed” by the receiving bank when it issues a payment order intended to carry out the payment order received by the bank. A payment…
• § 11302 (a) Except as provided in subdivisions (b) to (d), inclusive, if the receiving bank accepts a payment order pursuant to subdivision (a) of Section 11209, the…
• § 11303 (a) A receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender’s order,…
• § 11304 If the sender of a payment order that is erroneously executed as stated in Section 11303 receives notification from the receiving bank that the order was…
• § 11305 (a) If a funds transfer is completed but execution of a payment order by the receiving bank in breach of Section 11302 results in delay in payment to the…