Md. Code, Commercial Law § 4A-206
This is the official text of Md. Code, Commercial Law § 4A-206, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§4A–206.
Official statutory text
(a) (1) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system for transmittal to the bank, the funds-transfer system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank.
(2) If there is a discrepancy between the terms of the payment order transmitted to the funds-transfer system and the terms of the payment order transmitted by the funds-transfer system to the bank, the terms of the payment order of the sender are those transmitted by the funds-transfer system.
(3) 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 that it applies to payment orders.
(2) If there is a discrepancy between the terms of the payment order transmitted to the funds-transfer system and the terms of the payment order transmitted by the funds-transfer system to the bank, the terms of the payment order of the sender are those transmitted by the funds-transfer system.
(3) 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 that it applies to payment orders.
Status: in_force · Read it on the official government site
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