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UT Code § 70A-4a-202 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 202 - Authorized and verified payment orders.

70A-4a-202. Authorized and verified payment orders.    (1) A payment order received by the receiving bank is the authorized order of the person identified as sender if that person authorized the order or is otherwise bound by it under the law of agency.     (2)   (a) If a bank and its customer have agreed that the authenticity of payment orders issued to the bank in the name of the customer as sender will be verified pursuant to a security procedure, a payment order received by the receiving bank is effective as the order of the customer, whether or not authorized, if:   (i) the security procedure is a commercially reasonable method of providing security against unauthorized payment orders; and     (ii) the bank proves that it accepted the payment order in good faith and in compliance with the security procedure and any written agreement or instruction of the customer restricting acceptance of payment orders issued in the name of the customer.       (b) The bank is not required to follow an instruction that violates a written agreement with the customer or notice of which is not received at a time and in a manner affording the bank a reasonable opportunity to act on it before the payment order is accepted.       (3) Commercial reasonableness of a security procedure is a question of law to be determined by considering the wishes of the customer expressed to the bank, the circumstances of the customer known to the bank, including the size, type, and frequency of payment orders normally issued by the customer to the bank, alternative security procedures offered to the customer, and security procedures in general use by customers and receiving banks similarly situated. A security procedure is considered to be commercially reasonable if:   (a) the security procedure was chosen by the customer after the bank offered, and the customer refused, a security procedure that was commercially reasonable for that customer; and     (b) the customer expressly agreed in writing to be bound by any payment order, whether or not authorized, issued in its name, and accepted by the bank in compliance with the security procedure chosen by the customer.       (4) The term "sender" in this chapter includes the customer in whose name a payment order is issued if the order is the authorized order of the customer under Subsection (1), or it is effective as the order of the customer under Subsection (2).     (5) This section applies to amendments and cancellations of payment orders to the same extent it applies to payment orders.     (6) Except as provided in this section and in Subsection 70A-4a-203(2), rights and obligations arising under this section or Section 70A-4a-203 may not be varied by agreement.    Enacted by Chapter 294, 1990 General Session
UT Code § 70A-4a-203 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 203 - Unenforceability of certain verified payment orders.

70A-4a-203. Unenforceability of certain verified payment orders.    (1) This section applies to an accepted payment order that, pursuant to Subsection 70A-4a-202(1), is not an authorized order of a customer identified as sender, but which is effective as the order of the customer pursuant to Subsection 70A-4a-202(2).     (2) By express written agreement, the receiving bank may limit the extent to which it is entitled to enforce or retain payment of the payment order.     (3)   (a) The receiving bank is not entitled to enforce or retain payment of the payment order if the customer proves that the order was not caused, directly or indirectly, by:   (i) a person entrusted at any time with duties to act for the customer with respect to payment orders or the security procedure; or     (ii) a person who obtained access to transmitting facilities of the customer or who obtained, from a source controlled by the customer and without authority of the receiving bank, information facilitating breach of the security procedure, regardless of how the information was obtained or whether the customer was at fault.       (b) Information includes any access device, computer software or the like.       (4) This section applies to amendments of payment orders to the same extent it applies to payment orders.    Enacted by Chapter 294, 1990 General Session
UT Code § 70A-4a-204 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 204 - Refund of payment and duty of customer to report with respect to unauthorized payment order.

70A-4a-204. Refund of payment and duty of customer to report with respect to unauthorized payment order.    (1)   (a) If a receiving bank accepts a payment order issued in the name of its customer as sender which is not authorized and not effective as the order of the customer under Section 70A-4a-202, or not enforceable, in whole or in part, against the customer under Section 70A-4a-203, the bank shall refund any payment of the payment order received from the customer to the extent the bank is not entitled to enforce payment, and shall pay interest on the refundable amount calculated from the date the bank received payment to the date of the refund.     (b) However, the customer is not entitled to interest from the bank on the amount to be refunded if the customer fails to exercise ordinary care to determine that the order was not authorized by the customer and to notify the bank of the relevant facts within a reasonable time not exceeding 90 days after the date the customer received notification from the bank that the order was accepted or that the customer's account was debited with respect to the order.     (c) The bank is not entitled to any recovery from the customer on account of a failure by the customer to give notification as stated in this section.       (2) Reasonable time under Subsection (1) may be fixed by agreement as stated in Subsection 70A-1a-302(2), but the obligation of a receiving bank to refund payment as stated in Subsection (1) may not otherwise be varied by agreement.    Amended by Chapter 272, 2007 General Session
UT Code § 70A-4a-205 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 205 - Erroneous payment orders.

70A-4a-205. Erroneous payment orders.    (1) The rules listed in Subsections (2) through (5) apply if an accepted payment order was transmitted pursuant to a security procedure for the detection of error and payment order:   (a) erroneously instructed payment to a beneficiary not intended by the sender;     (b) erroneously instructed payment in an amount greater than the amount intended by the sender; or     (c) is an erroneously transmitted duplicate of a payment order previously sent by the sender.       (2) If the sender proves that the sender or a person acting on behalf of the sender pursuant to Section 70A-4a-206 complied with the security procedure and that the error would have been detected if the receiving bank had also complied, the sender is not obliged to pay the order to the extent stated in Subsections (3) and (4).     (3) If the funds transfer is completed on the basis of an erroneous payment order described in Subsection (1)(a) or (c), the sender is not obliged to pay the order and the receiving bank is entitled to recover from the beneficiary any amount paid to the beneficiary to the extent allowed by the law governing mistake and restitution.     (4) If the funds transfer is completed on the basis of a payment order described in Subsection (1)(b), the sender is not obliged to pay the order to the extent the amount received by the beneficiary is greater than the amount intended by the sender. In that case, the receiving bank is entitled to recover from the beneficiary the excess amount received to the extent allowed by the law governing mistake and restitution.     (5) This subsection applies if the sender of an erroneous payment order described in Subsection (1) is not obliged to pay all or part of the order, and the sender receives notification from the receiving bank that the order was accepted by the bank or that the sender's account was debited with respect to the order. The sender has a duty to exercise ordinary care, on the basis of information available to the sender, to discover the error with respect to the order and to advise the bank of the relevant facts within a reasonable time not exceeding 90 days after the bank's notification was received by the sender. If the bank proves that the sender failed to perform that duty, the sender is obliged to reimburse the bank for the loss the bank proves it incurred as a result of the failure, but the liability of the sender may not exceed the amount of the sender's order.     (6) This section applies to amendments to payment orders to the same extent it applies to payment orders.    Amended by Chapter 237, 1993 General Session
UT Code § 70A-4a-206 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 206 - Transmission of payment order through funds transfer or other communication system.

70A-4a-206. Transmission of payment order through funds transfer or other communication system.  If a payment order addressed to a receiving bank is transmitted to a funds transfer system or other third-party communication system for transmittal to the bank, the system is deemed to be an agent of the sender for the purpose of transmitting the payment order to the bank. If there is a discrepancy between the terms of the payment order transmitted to the system and the terms of the payment order transmitted by the system to the bank, the terms of the payment order of the sender are those transmitted by the system. This section applies to amendments and cancellations of payment orders to the same extent it applies to payment orders. This section does not apply to a funds transfer system of the Federal Reserve Banks.  Enacted by Chapter 294, 1990 General Session
UT Code § 70A-4a-208 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 208 - Misdescription of intermediary bank or beneficiary's bank.

70A-4a-208. Misdescription of intermediary bank or beneficiary's bank.    (1) This subsection applies to a payment order identifying an intermediary bank or beneficiary's bank by an identifying number.   (a) The receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank and need not determine whether the number identifies a bank.     (b) The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order.       (2) This subsection applies to a payment order identifying an intermediary bank or beneficiary's bank both by name and an identifying number if the name and number identify different persons.   (a) If the sender is a bank, the receiving bank may rely on the number as the proper identification of the intermediary or beneficiary's bank if the receiving bank, when it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person or whether the number refers to a bank. The sender is obliged to compensate the receiving bank for any loss and expenses incurred by the receiving bank as a result of its reliance on the number in executing or attempting to execute the order.     (b) If the sender is not a bank and the receiving bank proves that the sender, before the payment order was accepted, had notice that the receiving bank might rely on the number as the proper identification of the intermediary or beneficiary's bank even if it identifies a person different from the bank identified by name, the rights and obligations of the sender and the receiving bank are governed by Subsection (2)(a), as though the sender were a bank. Proof of notice may be made by any admissible evidence. The receiving bank satisfies the burden of proof if it proves that the sender, before the payment order was accepted, signed a writing stating the information to which the notice relates.     (c) Regardless of whether the sender is a bank, the receiving bank may rely on the name as the proper identification of the intermediary or beneficiary's bank if the receiving bank, at the time it executes the sender's order, does not know that the name and number identify different persons. The receiving bank need not determine whether the name and number refer to the same person.     (d) If the receiving bank knows that the name and number identify different persons, reliance on either the name or the number in executing the sender's payment order is a breach of the obligation stated in Subsection 70A-4a-302(1)(a).      Amended by Chapter 237, 1993 General Session
UT Code § 70A-4a-210 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 210 - Rejection of payment order.

70A-4a-210. Rejection of payment order.    (1) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing. A notice of rejection need not use any particular words and is sufficient if it indicates that the receiving bank is rejecting the order or will not execute or pay the order. Rejection is effective when the notice is given if transmission is by a means that is reasonable in the circumstances. If notice of rejection is given by a means that is not commercially reasonable, rejection is effective when the notice is received. If an agreement of the sender and receiving bank establishes the means to be used to reject a payment order:   (a) any means complying with the agreement is commercially reasonable; and     (b) any means not complying is not commercially reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means.       (2) This subsection applies if a receiving bank other than the beneficiary's bank fails to execute a payment order despite the existence on the execution date of a withdrawable credit balance in an authorized account of the sender sufficient to cover the order. If the sender does not receive notice of rejection of the order on the execution date and the authorized account of the sender does not bear interest, the bank is obliged to pay interest to the sender on the amount of the order for the number of days elapsing after the execution date to the earlier of the day the order is canceled pursuant to Section 70A-4a-211 or the day the sender receives notice or learns that the order was not executed, counting the final day of the period as an elapsed day. If the withdrawable credit balance during that period falls below the amount of the order, the amount of interest is reduced accordingly.     (3) If a receiving bank suspends payments, all unaccepted payment orders issued to the bank are deemed rejected at the time the bank suspends payments.     (4) Acceptance of a payment order precludes a later rejection of the order. Rejection of a payment order precludes a later acceptance of the order.    Amended by Chapter 237, 1993 General Session
UT Code § 70A-4a-212 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 2 - Issuance and Acceptance of Payment Order|Section 212 - Liability and duty of receiving bank regarding unaccepted payment order.

70A-4a-212. 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 as provided in the agreement or in this chapter, 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 chapter or by express agreement. Liability based on acceptance arises only when acceptance occurs as stated in Section 70A-4a-209 and liability is limited to that provided in this chapter. 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 chapter or by express agreement.  Amended by Chapter 237, 1993 General Session
UT Code § 70A-4a-301 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 3 - Execution of Sender's Payment Order by Receiving Bank|Section 301 - "Execution" and "execution date."

70A-4a-301. "Execution" and "execution date."    (1) 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.     (2) "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 can 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.    Enacted by Chapter 294, 1990 General Session
UT Code § 70A-4a-303 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 3 - Execution of Sender's Payment Order by Receiving Bank|Section 303 - Erroneous execution of payment order.

70A-4a-303. Erroneous execution of payment order.    (1) A receiving bank that 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 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 in accordance with Subsection 70A-4a-402(3) 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.     (2)   (a) 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 in accordance with Subsection 70A-4a-402(3) 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.       (b) 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.       (3) 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.    Amended by Chapter 237, 1993 General Session
UT Code § 70A-4a-304 (2021)
2021 Utah Code|Title 70A - Uniform Commercial Code|Chapter 4a - Uniform Commercial Code - Funds Transfers|Part 3 - Execution of Sender's Payment Order by Receiving Bank|Section 304 - Duty of sender to report erroneously executed payment order.

70A-4a-304. Duty of sender to report erroneously executed payment order.  If the sender of a payment order that is erroneously executed as stated in Section 70A-4a-303 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 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 that is refundable to the sender under Subsection 70A-4a-402(4) 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.  Amended by Chapter 237, 1993 General Session