reglab/housing_qa huggingface dataset:
MA Gen L ch 4a § 4a-303 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-303 - Erroneous Execution of Payment Order

Section 4A–303. (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, or (ii) issues a payment order in execution of the sender's order and then issues a duplicate order, is entitled to payment of the amount of the sender's order under section 4A–402(c) if that subsection is otherwise satisfied. The bank is entitled to recover from the beneficiary of the erroneous order the excess payment received to the extent allowed by the law governing mistake and restitution.  (b) A receiving bank that executes the payment order of the sender by issuing a payment order in an amount less than the amount of the sender's order is entitled to payment of the amount of the sender's order under subsection (c) of section 4A–402 if (i) that subsection is otherwise satisfied and (ii) the bank corrects its mistake by issuing an additional payment order for the benefit of the beneficiary of the sender's order. If the error is not corrected, the issuer of the erroneous order is entitled to receive or retain payment from the sender of the order it accepted only to the extent of the amount of the erroneous order. This subsection does not apply if the receiving bank executes the sender's payment order by issuing a payment order in an amount less than the amount of the sender's order for the purpose of obtaining payment of its charges for services and expenses pursuant to instruction of the sender.  (c) If a receiving bank executes the payment order of the sender by issuing a payment order to a beneficiary different from the beneficiary of the sender's order and the funds transfer is completed on the basis of that error, the sender of the payment order that was erroneously executed and all previous senders in the funds transfer are not obliged to pay the payment orders they issued. The issuer of the erroneous order is entitled to recover from the beneficiary of the order the payment received to the extent allowed by the law governing mistake and restitution.
MA Gen L ch 4a § 4a-406 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-406 - Payment by Originator to Beneficiary; Discharge of Underlying Obligation

Section 4A–406. (a) Subject to subsection (e) of section 4A–211, and subsection (d) and (e) of section 4A–405, the originator of a funds transfer pays the beneficiary of the originator's payment order (i) at the time a payment order for the benefit of the beneficiary is accepted by the beneficiary's bank in the funds transfer and (ii) in an amount equal to the amount of the order accepted by the beneficiary's bank, but not more than the amount of the originator's order.  (b) If payment under subsection (a) is made to satisfy an obligation, the obligation is discharged to the same extent discharge would result from payment to the beneficiary of the same amount in money, unless (i) the payment under subsection (a) was made by a means prohibited by the contract of the beneficiary with respect to the obligation, (ii) the beneficiary, within a reasonable time after receiving notice of receipt of the order by the beneficiary's bank, notified the originator of the beneficiary's refusal of the payment, (iii) funds with respect to the order were not withdrawn by the beneficiary or applied to a debt of the beneficiary, and (iv) the beneficiary would suffer a loss that could reasonably have been avoided if payment had been made by a means complying with the contract. If payment by the originator does not result in discharge under this section, the originator is subrogated to the rights of the beneficiary to receive payment from the beneficiary's bank under subsection (a) of section 4A–404.  (c) For the purpose of determining whether discharge of an obligation occurs under subsection (b), if the beneficiary's bank accepts a payment order in an amount equal to the amount of the originator's payment order less charges of one or more receiving banks in the funds transfer, payment to the beneficiary is deemed to be in the amount of the originator's order unless upon demand by the beneficiary the originator does not pay the beneficiary the amount of the deducted charges.  (d) Rights of the originator or of the beneficiary of a funds transfer under this section may be varied only by agreement of the originator and the beneficiary.
MA Gen L ch 4a § 4a-502 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-502 - Creditor Process Served on Receiving Bank; Setoff by Beneficiary's Bank

Section 4A–502. (a) As used in this section, ''creditor process'' means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account.  (b) This subsection applies to creditor process with respect to an authorized account of the sender of a payment order if the creditor process is served on the receiving bank. For the purpose of determining rights with respect to the credit process, if the receiving bank accepts the payment order the balance in the authorized account is deemed to be reduced by the amount of the payment order to the extent the bank did not otherwise receive payment of the order, unless the creditor process is served at a time and in a manner affording the bank a reasonable opportunity to act on it before the bank accepts the payment order.  (c) If a beneficiary's bank has received a payment order for payment to the beneficiary's account in the bank, the following rules apply:  (1) The bank may credit the beneficiary's account. The amount credited may be set off against an obligation owed by the beneficiary to the bank or may be applied to satisfy creditor process served on the bank with respect to the account.  (2) The bank may credit the beneficiary's account and allow withdrawal of the amount credited unless creditor process with respect to the account is served at a time and in a manner affording the bank a reasonable opportunity to act to prevent withdrawal.  (3) If creditor process with respect to the beneficiary's account has been served and the bank has had a reasonable opportunity to act on it, the bank may not reject the payment order except for a reason unrelated to the service of process.  (d) Creditor process with respect to a payment by the originator to the beneficiary pursuant to a funds transfer may be served only on the beneficiary's bank with respect to the debt owed by that bank to the beneficiary. Any other bank served with the creditor process is not obliged to act with respect to the process.
MA Gen L ch 4a § 4a-503 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-503 - Injunction or Restraining Order With Respect to Funds Transfer

Section 4A–503. For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator's bank from executing the payment order of the originator, or (iii) the beneficiary's bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer.
MA Gen L ch 4a § 4a-504 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-504 - Order in Which Items and Payment Orders May Be Charged to Account; Order or Withdrawals From Account

Section 4A–504. (a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender's account, the bank may charge the sender's account with respect to the various orders and items in any sequence.  (b) In determining whether a credit to an account has been withdrawn by the holder of the account or applied to a debt of the holder of the account, credits first made to the account are first withdrawn or applied.
MA Gen L ch 4a § 4a-505 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-505 - Preclusion of Objection to Debit of Customer's Account

Section 4A–505. If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonably identifying the order, the customer is precluded from asserting that the bank is not entitled to retain the payment unless the customer notifies the bank of the customer's objection to the payment within one year after the notification was received by the customer.
MA Gen L ch 4a § 4a-506 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-506 - Rate of Interest

Section 4A–506. (a) If, under this Article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined (i) by agreement of the sender and receiving bank, or (ii) by a funds transfer system rule if the payment order is transmitted through a funds transfer system.  (b) If the amount of interest is not determined by an agreement or rule as stated in subsection (a), the amount is calculated by multiplying the applicable federal funds rate by the amount on which interest is payable, and then multiplying the product by the number of days for which interest is payable. The applicable federal funds rate is the average of the federal funds rates published by the Federal Reserve Bank of New York for each of the days for which interest is payable divided by three hundred and sixty. The federal funds rate for any day on which a published rate is not available is the same as the published rate for the next preceding day for which there is a published rate. If a receiving bank that accepted a payment order is required to refund payment to the sender of the order because the funds transfer was not completed, but the failure to complete was not due to any fault by the bank, the interest payable is reduced by a percentage equal to the reserve requirement on deposits of the receiving bank.
MA Gen L ch 4a § 4a-507 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-507 - Choice of Law

Section 4A–507. (a) The following rules shall apply unless the affected parties otherwise agree or subsection (c) applies:  (1) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located.  (2) The rights and obligations between the beneficiary's bank and the beneficiary are governed by the law of the jurisdiction in which the beneficiary's bank is located.  (3) The issue of when payment is made pursuant to a funds transfer by the originator to the beneficiary is governed by the law of the jurisdiction in which the beneficiary's bank is located.  (b) If the parties described in each paragraph of subsection (a) have made an agreement selecting the law of a particular jurisdiction to govern rights and obligations between each other, the law of such jurisdiction shall govern such rights and obligations, whether or not the payment order or the funds transfer bears a reasonable relation to that jurisdiction.  (c) A funds transfer system rule may select the law of a particular jurisdiction to govern (i) rights and obligations between participating banks with respect to payment orders transmitted or processed through the system, or (ii) the rights and obligations of some or all parties to a funds transfer any part of which is carried out by means of the system. A choice of law made pursuant to clause (i) is binding on participating banks. A choice of law made pursuant to clause (ii) is binding on the originator, other sender, or a receiving bank having notice that the funds transfer system might be used in the funds transfer and of the choice of law by the system when the originator, other sender, or receiving bank issued or accepted a payment order. The beneficiary of a funds transfer is bound by the choice of law if, when the funds transfer is initiated, the beneficiary has notice that the funds transfer system might be used in the funds transfer and of the choice of law by the system. The law of a jurisdiction selected pursuant to this subsection may govern, whether or not that law bears a reasonable relation to the matter in issue.  (d) In the event of inconsistency between an agreement made under subsection (b) and a choice-of-law rule under subsection (c), the agreement under said subsection (b) shall prevail.  (e) If a funds transfer is made by use of more than one funds transfer system and there is inconsistency between choice-of-law rules of the systems, the matter in issue shall be governed by the law of the selected jurisdiction that has the most significant relationship to the matter in issue.
MA Gen L ch 4a § 4a-102 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-102 - Subject Matter

Section 4A–102. Except as otherwise provided in section 4A–108, this Article shall apply to a funds transfer as defined in section 4A–104.
MA Gen L ch 4a § 4a-501 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-501 - Variation by Agreement and Effect of Funds Transfer System Rule

Section 4A–501. (a) Except as otherwise provided in this Article, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party.  (b) ''Funds transfer system rule'' means a rule of an association of banks (i) governing transmission of payment orders by means of a funds transfer system of the association or rights and obligations with respect to such orders, or (ii) to the extent the rule governs rights and obligations between banks that are parties to a funds transfer in which a federal reserve bank, acting as an intermediary bank, sends a payment order to the beneficiary's bank. Except as otherwise provided in this Article, a funds transfer system rule governing rights and obligations between participating banks using the system may be effective even if the rule conflicts with this Article and indirectly affects another party to the funds transfer who does not consent to the rule. A funds transfer system rule may also govern rights and obligations of parties other than participating banks using the system to the extent stated in subsection (c) of section 4A–404, subsection (d) of section 4A–405, and subsection (c) of section 4A–507.
MA Gen L ch 4a § 4a-104 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-104 - Funds Transfer &mdash; Definitions

Section 4A–104. In this Article, unless the context otherwise requires, the following words and phrases shall have the following meanings:  (a) ''Funds transfer'', the series of transactions, beginning with the originator's payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator's bank or an intermediary bank intended to carry out the originator's payment order. A funds transfer is completed by acceptance by the beneficiary's bank of a payment order for the benefit of the beneficiary of the originator's payment order.  (b) ''Intermediary bank'', a receiving bank other than the originator's bank or the beneficiary's bank.  (c) ''Originator'', the sender of the first payment order in a funds transfer.  (d) ''Originator's bank'', (i) the receiving bank to which the payment order of the originator is issued if the originator is not a bank, or (ii) the originator if the originator is a bank.
MA Gen L ch 4a § 4a-212 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-212 - Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order

Section 4A–212. 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 4A-209, 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.
MA Gen L ch 4a § 4a-301 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-301 - Execution and Execution Date

Section 4A–301. (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 order received by the beneficiary's bank can be accepted but cannot be executed.  (b) ''Execution date'' of a payment order means the day on which the receiving bank may properly issue a payment order in execution of the sender's order. The execution date may be determined by instruction of the sender but cannot be earlier than the day the order is received and, unless otherwise determined, is the day the order is received. If the sender's instruction states a payment date, the execution date is the payment date or an earlier date on which execution is reasonably necessary to allow payment to the beneficiary on the payment date.
MA Gen L ch 4a § 4a-105 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-105 - Other Definitions

Section 4A–105. (a) In this Article, unless the context otherwise requires, the following words and phrases shall have the following meanings:  (1) ''Authorized account'', a deposit account of a customer in a bank designated by such customer as a source of payment of payment orders issued by such customer to the bank. If a customer does not so designate an account, any account of such customer is an authorized account if payment of a payment order from that account is not inconsistent with a restriction on the use of such account.  (2) ''Bank'', a person engaged in the business of banking and shall include a savings bank, savings and loan association, credit union, or trust company. A branch or separate office of a bank is a separate bank for purposes of this Article.  (3) ''Customer'', a person, including a bank, having an account with a bank or from whom a bank has agreed to receive payment orders.  (4) ''Funds transfer business day'', the part of a day during which a receiving bank is open for the receipt, processing, and transmittal of payment orders and cancellations and amendments of payment orders.  (5) ''Funds transfer system'', a wire transfer network, automated clearing house, or other communication system of a clearing house or other association of banks through which a payment order of a bank may be transmitted to the bank to which the order is addressed.  (6) ''Good faith'', honesty in fact and the observance of reasonable commercial standards of fair dealing.  (7) ''Prove'', with respect to a fact means to meet the ''burden of establishing'' a fact as provided in paragraph (8) of subsection (b) of section 1–201.  (b) Other definitions applying to this Article and the sections in which they appear are:  (c) The following definitions in Article 4 shall apply to this Article:  (d) In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
MA Gen L ch 4a § 4a-106 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-106 - Time Payment Order Is Received

Section 4A–106. (a) The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in section 1–202. A receiving bank may fix a cut-off time on a funds transfer business day for the receipt and processing of a payment order or a communication cancelling or amending a payment order. Different cut-off times may apply to a payment order, cancellation, or amendment, or to different categories of payment orders, cancellations, or amendments. A cut-off time may apply to senders generally or different cut-off times may apply to different senders or categories of payment orders. If a payment order or communication cancelling or amending a payment order is received after the close of a funds transfer business day or after the appropriate cut-off time on a funds transfer business day, the receiving bank may treat the payment order or communication as received at the opening of the next funds transfer business day.  (b) If this Article refers to an execution date or payment date or states a day on which a receiving bank is required to take action, and the date or day does not fall on a funds transfer business day, the next day that is a funds transfer business day is treated as the date or day stated, unless the contrary is stated in this Article.
MA Gen L ch 4a § 4a-107 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-107 - Federal Reserve Regulations and Operating Circulars

Section 4A–107. Regulations of the board of governors of the federal reserve system and operating circulars of the federal reserve banks shall supersede any inconsistent provision of this Article to the extent of such inconsistency.
MA Gen L ch 4a § 4a-101 (2021)
2021 Massachusetts General Laws|Part I - Administration of the Government|Title XV - Regulation of Trade|Chapter 106 - Uniform Commercial Code|Article 4a - Funds Transfers|Section 4a-101 - Short Title

Section 4A–101. This Article shall be known and may be cited as Uniform Commercial Code—Funds Transfers.