Okla. Stat. tit. 12A, § 12A-4A-212
This is the official text of Okla. Stat. tit. 12A, § 12A-4A-212, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Liability and duty of receiving bank regarding
Official statutory text
unaccepted payment.
LIABILITY AND DUTY OF RECEIVING BANK REGARDING UNACCEPTED
PAYMENT ORDER
If a receiving bank fails to accept a payment order that it is
obliged by express agreement to accept, the bank is liable for
breach of the agreement to the extent provided in the agreement or
in this Article, but does not otherwise have any duty to accept a
payment order or, before acceptance, to take any action, or refrain
from taking action, with respect to the order except as provided in
this Article or by express agreement. Liability based on acceptance
arises only when acceptance occurs as stated in Section 17 of this
act, and liability is limited to that provided in this Article. A
receiving bank is not the agent of the sender or beneficiary of the
payment order it accepts, or of any other party to the funds
transfer, and the bank owes no duty to any party to the funds
transfer except as provided in this Article or by express agreement.
LIABILITY AND DUTY OF RECEIVING BANK REGARDING UNACCEPTED
PAYMENT ORDER
If a receiving bank fails to accept a payment order that it is
obliged by express agreement to accept, the bank is liable for
breach of the agreement to the extent provided in the agreement or
in this Article, but does not otherwise have any duty to accept a
payment order or, before acceptance, to take any action, or refrain
from taking action, with respect to the order except as provided in
this Article or by express agreement. Liability based on acceptance
arises only when acceptance occurs as stated in Section 17 of this
act, and liability is limited to that provided in this Article. A
receiving bank is not the agent of the sender or beneficiary of the
payment order it accepts, or of any other party to the funds
transfer, and the bank owes no duty to any party to the funds
transfer except as provided in this Article or by express agreement.
Status: in_force · Read it on the official government site
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