Okla. Stat. tit. 12A, § 12A-4A-304
This is the official text of Okla. Stat. tit. 12A, § 12A-4A-304, 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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Duty of sender to report erroneously executed payment
Official statutory text
order.
DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER
If the sender of a payment order that is erroneously executed as
stated in Section 23 of this act receives notification from the
receiving bank that the order was executed or that the sender's
account was debited with respect to the order, the sender has a duty
to exercise ordinary care to determine, on the basis of information
available to the sender, that the order was erroneously executed and
to notify the bank of the relevant facts within a reasonable time
not exceeding ninety (90) days after the notification from the bank
was received by the sender. If the sender fails to perform that
duty, the bank is not obliged to pay interest on any amount
refundable to the sender under subsection (d) of Section 27 of this
act for the period before the bank learns of the execution error.
The bank is not entitled to any recovery from the sender on account
of a failure by the sender to perform the duty stated in this
section.
DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER
If the sender of a payment order that is erroneously executed as
stated in Section 23 of this act receives notification from the
receiving bank that the order was executed or that the sender's
account was debited with respect to the order, the sender has a duty
to exercise ordinary care to determine, on the basis of information
available to the sender, that the order was erroneously executed and
to notify the bank of the relevant facts within a reasonable time
not exceeding ninety (90) days after the notification from the bank
was received by the sender. If the sender fails to perform that
duty, the bank is not obliged to pay interest on any amount
refundable to the sender under subsection (d) of Section 27 of this
act for the period before the bank learns of the execution error.
The bank is not entitled to any recovery from the sender on account
of a failure by the sender to perform the duty stated in this
section.
Status: in_force · Read it on the official government site
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