reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 3: COLLECTION OF ITEMS: PAYOR BANKS › 11 §4-303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified

§4-303. When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified
(1).
Any knowledge, notice or stop-payment order received by, legal process served upon or setoff exercised by a payor bank comes too late to terminate, suspend or modify the bank's right or duty to pay an item or to charge its customer's account for the item if the knowledge, notice, stop-payment order or legal process is received or served and a reasonable time for the bank to act thereon expires or the setoff is exercised after the earliest of the following:
(a). The bank accepts or certifies the item;   [PL 1993, c. 293, Pt. B, §38 (AMD).]
(b). The bank pays the item in cash;   [PL 1993, c. 293, Pt. B, §38 (AMD).]
(c). The bank settles for the item without having a right to revoke the settlement under statute, clearinghouse rule or agreement;   [PL 1993, c. 293, Pt. B, §38 (AMD).]
(d).   [PL 1993, c. 293, Pt. B, §38 (RP).]
(e). The bank becomes accountable for the amount of the item under section 4-302 dealing with the payor bank's responsibility for late return of items; or   [PL 1993, c. 293, Pt. B, §38 (AMD).]
(f). With respect to checks, a cutoff hour no earlier than one hour after the opening of the next banking day after the banking day on which the bank received the check and no later than the close of that next banking day or, if no cutoff hour is fixed, the close of the next banking day after the banking day on which the bank received the check.   [PL 1993, c. 293, Pt. B, §38 (NEW).]
[PL 1993, c. 293, Pt. B, §38 (AMD).]
(2).
Subject to subsection (1), items may be accepted, paid, certified or charged to the indicated account of its customer in any order.
[PL 1993, c. 293, Pt. B, §38 (AMD).]
SECTION HISTORY
PL 1979, c. 541, §A111 (AMD). PL 1993, c. 293, §B38 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-401. When bank may charge customer's account

§4-401. When bank may charge customer's account
(1).
A bank may charge against the account of a customer an item that is properly payable from that account even though the charge creates an overdraft. An item is properly payable if it is authorized by the customer and is in accordance with any agreement between the customer and bank.
[PL 1993, c. 293, Pt. B, §39 (AMD).]
(1-A).
A customer is not liable for the amount of an overdraft if the customer neither signed the item nor benefited from the proceeds of the item.
[PL 1993, c. 293, Pt. B, §39 (NEW).]
(1-B).
A bank may charge against the account of a customer a check that is otherwise properly payable from the account, even though payment was made before the date of the check, unless the customer has given notice to the bank of the postdating describing the check with reasonable certainty. The notice is effective for the period stated in section 4-403, subsection (2) for stop-payment orders and must be received at such time and in such manner as to afford the bank a reasonable opportunity to act on it before the bank takes any action with respect to the check described in section 4-303. If a bank charges against the account of a customer a check before the date stated in the notice of postdating, the bank is liable for damages for the loss resulting from its act. The loss may include damages for dishonor of subsequent items under section 4-402.
[PL 1993, c. 293, Pt. B, §39 (NEW).]
(2).
A bank that in good faith makes payment to a holder may charge the indicated account of its customer according to:
(a). The original terms of the altered item; or   [PL 1993, c. 293, Pt. B, §39 (AMD).]
(b). The terms of the completed item, even though the bank knows the item has been completed unless the bank has notice that the completion was improper.   [PL 1993, c. 293, Pt. B, §39 (AMD).]
[PL 1993, c. 293, Pt. B, §39 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B39 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account

§4-402. Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account
(1).
Except as otherwise provided in this Article, a payor bank wrongfully dishonors an item if it dishonors an item that is properly payable, but a bank may dishonor an item that would create an overdraft unless it has agreed to pay the overdraft.
[PL 1993, c. 293, Pt. B, §40 (NEW).]
(2).
A payor bank is liable to its customer for damages proximately caused by the wrongful dishonor of an item. Liability is limited to actual damages proved and may include damages for an arrest or prosecution of the customer or other consequential damages. Whether any consequential damages are proximately caused by the wrongful dishonor is a question of fact to be determined in each case.
[PL 1993, c. 293, Pt. B, §40 (NEW).]
(3).
A payor bank's determination of the customer's account balance on which a decision to dishonor for insufficiency of available funds is based may be made at any time between the time the item is received by the payor bank and the time that the payor bank returns the item or gives notice in lieu of return, and no more than one determination need be made. If, at the election of the payor bank, a subsequent balance determination is made for the purpose of reevaluating the bank's decision to dishonor the item, the account balance at that time is determinative of whether a dishonor for insufficiency of available funds is wrongful.
[PL 1993, c. 293, Pt. B, §40 (NEW).]
SECTION HISTORY
PL 1993, c. 293, §B40 (RPR).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-403. Customer's right to stop payment; burden of proof of loss

§4-403. Customer's right to stop payment; burden of proof of loss
(1).
A customer or any person authorized to draw on the account if there is more than one person may stop payment of any item drawn on the customer's account or close the account by an order to the bank describing the item or account with reasonable certainty received at a time and in a manner that affords the bank a reasonable opportunity to act on it before any action by the bank with respect to the item described in section 4-303. If the signature of more than one person is required to draw on an account, any of these persons may stop payment or close the account.
[PL 1993, c. 293, Pt. B, §41 (AMD).]
(2).
A stop-payment order is effective for 6 months, but it lapses after 14 calendar days if the original order was oral and was not confirmed in writing within that period. A stop-payment order may be renewed for additional 6-month periods by a writing given to the bank within a period during which the stop-payment order is effective.
[PL 1993, c. 293, Pt. B, §41 (AMD).]
(3).
The burden of establishing the fact and amount of loss resulting from the payment of an item contrary to a stop-payment order or order to close an account is on the customer. The loss from payment of an item contrary to a stop-payment order may include damages for dishonor of subsequent items under section 4-402.
[PL 1993, c. 293, Pt. B, §41 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B41 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-404. Bank not obligated to pay check more than 6 months old

§4-404. Bank not obligated to pay check more than 6 months old
A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than 6 months after its date, but it may charge its customer's account for a payment made thereafter in good faith.
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-405. Death or incompetence of customer

§4-405. Death or incompetence of customer
(1).
A payor or collecting bank's authority to accept, pay or collect an item or to account for proceeds of its collection, if otherwise effective, is not rendered ineffective by incompetence of a customer of either bank existing at the time the item is issued or its collection is undertaken, if the bank does not know of an adjudication of incompetence. Neither death nor incompetence of a customer revokes the authority to accept, pay, collect or account until the bank knows of the fact of death or of an adjudication of incompetence and has reasonable opportunity to act on it.
[PL 1993, c. 293, Pt. B, §42 (AMD).]
(2).
Even with knowledge, a bank may for 10 days after the date of death pay or certify checks drawn on or before that date unless ordered to stop payment by a person claiming an interest in the account.
[PL 1993, c. 293, Pt. B, §42 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B42 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 4: RELATIONSHIP BETWEEN PAYOR BANK AND ITS CUSTOMER › 11 §4-407. Payor bank's right to subrogation on improper payment

§4-407. Payor bank's right to subrogation on improper payment
If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under circumstances giving a basis for objection by the drawer or maker, to prevent unjust enrichment and only to the extent necessary to prevent loss to the bank by reason of its payment of the item, the payor bank is subrogated to the rights:   [PL 1993, c. 293, Pt. B, §44 (AMD).]
(1).
Of any holder in due course on the item against the drawer or maker;
[PL 1993, c. 293, Pt. B, §44 (AMD).]
(2).
Of the payee or any other holder of the item against the drawer or maker either on the item or under the transaction out of which the item arose; and
(3).
Of the drawer or maker against the payee or any other holder of the item with respect to the transaction out of which the item arose.
SECTION HISTORY
PL 1993, c. 293, §B44 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 5: COLLECTION OF DOCUMENTARY DRAFTS › 11 §4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor

§4-501. Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor
A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning that the draft has not been paid or accepted in due course, shall seasonably notify its customer of the fact, even though it may have discounted or bought the draft or extended credit available for withdrawal as of right.   [PL 1993, c. 293, Pt. B, §45 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B45 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 5: COLLECTION OF DOCUMENTARY DRAFTS › 11 §4-502. Presentment of "on arrival" drafts

§4-502. Presentment of "on arrival" drafts
If a draft or the relevant instructions require presentment "on arrival," "when goods arrive" or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.   [PL 1993, c. 293, Pt. B, §46 (AMD).]
SECTION HISTORY
PL 1993, c. 293, §B46 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 5: COLLECTION OF DOCUMENTARY DRAFTS › 11 §4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need

§4-503. Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
Unless otherwise instructed and except as provided in Article 5, a bank presenting a documentary draft:   [PL 1993, c. 293, Pt. B, §47 (AMD).]
(1).
Must deliver the documents to the drawee on acceptance of the draft, if it is payable more than 3 days after presentment; otherwise, only on payment; and
(2).
Upon dishonor, either in the case of presentment for acceptance or presentment for payment, may seek and follow instruction from any referee in case of need designated in the draft or, if the presenting bank does not choose to utilize the referee's services, it must use diligence and good faith to ascertain the reason for dishonor, must notify its transferor of the dishonor and of the results of its effort to ascertain the reasons therefor, and must request instructions.
[PL 1993, c. 293, Pt. B, §47 (AMD).]
However the presenting bank is under no obligation with respect to goods represented by the documents, except to follow any reasonable instructions seasonably received; it has a right to reimbursement for any expense incurred in following instructions and to prepayment of or indemnity for those expenses.   [PL 1993, c. 293, Pt. B, §47 (AMD).]
SECTION HISTORY
PL 1965, c. 306, §13 (AMD). PL 1993, c. 293, §B47 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4: BANK DEPOSITS AND COLLECTIONS › Part 5: COLLECTION OF DOCUMENTARY DRAFTS › 11 §4-504. Privilege of presenting bank to deal with goods; security interest for expenses

§4-504. Privilege of presenting bank to deal with goods; security interest for expenses
(1).
A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell or otherwise deal with the goods in any reasonable manner.
[PL 1993, c. 293, Pt. B, §48 (AMD).]
(2).
For its reasonable expenses incurred by action under subsection (1) the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller's lien.
SECTION HISTORY
PL 1993, c. 293, §B48 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1101. Short title

§4-1101. Short title
This Article is known and may be cited as the "Uniform Commercial Code - Funds Transfers."   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1102. Subject matter

§4-1102. Subject matter
Except as otherwise provided in section 4-1109, this Article applies to funds transfers defined in section 4-1104.   [PL 2013, c. 151, §1 (AMD).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW). PL 2013, c. 151, §1 (AMD).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1103. Payment order; definitions

§4-1103. Payment order; definitions
(1).
In this Article:
(a). "Payment order" means an instruction of a sender to a receiving bank, transmitted orally, electronically or in writing, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if:
(i) The instruction does not state a condition to payment to the beneficiary other than time of payment;
(ii) The receiving bank is to be reimbursed by debiting an account of, or otherwise receiving payment from, the sender; and
(iii) The instruction is transmitted by the sender directly to the receiving bank or to an agent, funds transfer system or communication system for transmittal to the receiving bank;   [PL 1991, c. 812, §2 (NEW).]
(b). "Beneficiary" means the person to be paid by the beneficiary's bank;   [PL 1991, c. 812, §2 (NEW).]
(c). "Beneficiary's bank" means the bank identified in a payment order in which an account of the beneficiary is to be credited pursuant to the order or which otherwise is to make payment to the beneficiary if the order does not provide for payment to an account;   [PL 1991, c. 812, §2 (NEW).]
(d). "Receiving bank" means the bank to which the sender's instruction is addressed; and   [PL 1991, c. 812, §2 (NEW).]
(e). "Sender" means the person giving the instruction to the receiving bank.   [PL 1991, c. 812, §2 (NEW).]
[PL 1991, c. 812, §2 (NEW).]
(2).
If an instruction complying with subsection (1), paragraph (a) is to make more than one payment to a beneficiary, the instruction is a separate payment order with respect to each payment.
[PL 1991, c. 812, §2 (NEW).]
(3).
A payment order is issued when it is sent to the receiving bank.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1104. Funds transfer; definitions

§4-1104. Funds transfer; definitions
In this Article:
(1).
"Funds transfer" means 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;
[PL 1991, c. 812, §2 (NEW).]
(2).
"Intermediary bank" means a receiving bank other than the originator's bank or the beneficiary's bank;
[PL 1991, c. 812, §2 (NEW).]
(3).
"Originator" means the sender of the first payment order in a funds transfer; and
[PL 1991, c. 812, §2 (NEW).]
(4).
"Originator's bank" means:
(a). The receiving bank to which the payment order of the originator is issued if the originator is not a bank; or   [PL 1991, c. 812, §2 (NEW).]
(b). The originator if the originator is a bank.   [PL 1991, c. 812, §2 (NEW).]
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1106. Time payment order received

§4-1106. Time payment order received
(1).
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 1-1202. A receiving bank may fix a cut-off time or times on a funds transfer business day for the receipt and processing of payment orders and communications cancelling or amending payment orders. Different cut-off times may apply to payment orders, cancellations or amendments, 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.
[PL 2009, c. 325, Pt. B, §20 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).]
(2).
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.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW). PL 2009, c. 325, Pt. B, §20 (AMD). PL 2009, c. 325, Pt. B, §27 (AFF).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1107. Federal reserve regulations and operating circulars

§4-1107. Federal reserve regulations and operating circulars
Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent provision of this Article to the extent of the inconsistency.   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1108. Exclusion of consumer transactions governed by federal law (REPEALED)

§4-1108. Exclusion of consumer transactions governed by federal law
(REPEALED)
SECTION HISTORY
PL 1991, c. 812, §2 (NEW). PL 2013, c. 151, §2 (RP).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 1: SUBJECT MATTER AND DEFINITIONS › 11 §4-1109. Relationship to federal Electronic Fund Transfer Act

§4-1109. Relationship to federal Electronic Fund Transfer Act
(1).
Except as provided in subsection (2), this Article does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978, Title XX, Public Law 95-630, 92 Stat. 3728, 15 United States Code, Section 1693 et seq., as amended.
[PL 2013, c. 151, §3 (NEW).]
(2).
This Article applies to a funds transfer that is a remittance transfer as defined in the Electronic Fund Transfer Act of 1978, Title XX, Public Law 95-630, 92 Stat. 3728, 15 United States Code, Section 1693 et seq., as amended, unless the remittance transfer is an electronic fund transfer as defined in the Electronic Fund Transfer Act of 1978, Title XX, Public Law 95-630, 92 Stat. 3728, 15 United States Code, Section 1693 et seq., as amended.
[PL 2013, c. 151, §3 (NEW).]
(3).
In a funds transfer to which this Article applies, in the event of an inconsistency between an applicable provision of this Article and an applicable provision of the Electronic Fund Transfer Act of 1978, Title XX, Public Law 95-630, 92 Stat. 3728, 15 United States Code, Section 1693 et seq., as amended, the provision of the Electronic Fund Transfer Act governs to the extent of the inconsistency.
[PL 2013, c. 151, §3 (NEW).]
SECTION HISTORY
PL 2013, c. 151, §3 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1201. Security procedure

§4-1201. Security procedure
"Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of:   [PL 1991, c. 812, §2 (NEW).]
(1).
Verifying that a payment order or communication amending or cancelling a payment order is that of the customer; or
[PL 1991, c. 812, §2 (NEW).]
(2).
Detecting error in the transmission or the content of the payment order or communication.
[PL 1991, c. 812, §2 (NEW).]
A security procedure may require the use of algorithms or other codes, identifying words or numbers, encryption, callback procedures or similar security devices. Comparison of a signature on a payment order or communication with an authorized specimen signature of the customer is not by itself a security procedure.   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1203. Unenforceability of certain verified payment orders

§4-1203. Unenforceability of certain verified payment orders
(1).
If an accepted payment order is not under section 4-1202, subsection (1) an authorized order of a customer identified as sender but is effective as an order of the customer pursuant to section 4-1202, subsection (2), the following rules apply.
(a). 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.   [PL 1991, c. 812, §2 (NEW).]
(b). 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 a person:
(i) Entrusted at any time with duties to act for the customer with respect to payment orders or the security procedure or who obtained access to transmitting facilities of the customer; or
(ii) 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. Information includes any access device, computer software or the like.   [PL 1991, c. 812, §2 (NEW).]
[PL 1991, c. 812, §2 (NEW).]
(2).
This section applies to amendments of payment orders to the same extent it applies to payment orders.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1204. Refund of payment and duty of customer to report with respect to unauthorized payment order

§4-1204. Refund of payment and duty of customer to report with respect to unauthorized payment order
(1).
If a receiving bank accepts a payment order issued in the name of its customer as sender that is not authorized and not effective as the order of the customer under section 4‑1202 or not enforceable in whole or in part, against the customer under section 4‑1203, 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. 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. 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.
[PL 1991, c. 812, §2 (NEW).]
(2).
Reasonable time under subsection (1) may be fixed by agreement as stated in section 1‑1302, subsection (2), but the obligation of a receiving bank to refund payment as stated in subsection (1) may not otherwise be varied by agreement.
[PL 2009, c. 325, Pt. B, §21 (AMD); PL 2009, c. 325, Pt. B, §27 (AFF).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW). PL 2009, c. 325, Pt. B, §21 (AMD). PL 2009, c. 325, Pt. B, §27 (AFF).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1205. Erroneous payment orders

§4-1205. Erroneous payment orders
(1).
If an accepted payment order was transmitted pursuant to a security procedure for the detection of error and the payment order erroneously instructed payment to a beneficiary not intended by the sender, erroneously instructed payment in an amount greater than the amount intended by the sender or was an erroneously transmitted duplicate of a payment order previously sent by the sender, the following rules apply.
(a). If the sender proves that the sender or a person acting on behalf of the sender pursuant to section 4‑1206 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 paragraphs (b) and (c).   [PL 1991, c. 812, §2 (NEW).]
(b). If the funds transfer is completed on the basis of a payment order that erroneously instructed payment to a beneficiary not intended by the sender or that was an erroneously transmitted duplicate of a payment order previously sent by the sender, 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.   [PL 1991, c. 812, §2 (NEW).]
(c). If the funds transfer is completed on the basis of a payment order erroneously instructing payment in an amount greater than the amount intended by the sender, 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.   [PL 1991, c. 812, §2 (NEW).]
[PL 1991, c. 812, §2 (NEW).]
(2).
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 liable to 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.
[PL 1991, c. 812, §2 (NEW).]
(3).
This section applies to amendments to payment orders to the same extent it applies to payment orders.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1206. Transmission of payment order through funds transfer or other communication system

§4-1206. Transmission of payment order through funds transfer or other communication system
(1).
If a payment order addressed to a receiving bank is transmitted to a funds transfer system or other 3rd-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 does not apply to a funds transfer system of the Federal Reserve Banks.
[PL 1991, c. 812, §2 (NEW).]
(2).
This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1210. Rejection of payment order

§4-1210. 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 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, any means complying with the agreement is reasonable and any means not complying is not reasonable unless no significant delay in receipt of the notice resulted from the use of the noncomplying means.
[PL 1991, c. 812, §2 (NEW).]
(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 4-1211, subsection (4) 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.
[PL 1991, c. 812, §2 (NEW).]
(3).
If a receiving bank suspends payments, all unaccepted payment orders issued to it are deemed rejected at the time the bank suspends payments.
[PL 1991, c. 812, §2 (NEW).]
(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.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER › 11 §4-1212. Liability and duty of receiving bank regarding unaccepted payment order

§4-1212. 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 4-1209 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.   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK › 11 §4-1301. Execution and execution date

§4-1301. 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 can not be executed.
[PL 1991, c. 812, §2 (NEW).]
(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 may be determined by instruction of the sender but can not 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.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK › 11 §4-1303. Erroneous execution of payment order

§4-1303. 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 under section 4-1402, subsection (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.
[PL 1991, c. 812, §2 (NEW).]
(2).
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 section 4-1402, subsection (3) if that subsection is otherwise satisfied and 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 an instruction of the sender.
[PL 1991, c. 812, §2 (NEW).]
(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.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK › 11 §4-1304. Duty of sender to report erroneously executed payment order

§4-1304. Duty of sender to report erroneously executed payment order
If the sender of a payment order that is erroneously executed as stated in section 4-1303 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 refundable to the sender under section 4-1402, subsection (4) for the period before the bank learns of the execution error. The bank is not entitled to any recovery from the sender because the sender failed to perform the duty stated in this section.   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK › 11 §4-1305. Liability for late or improper execution or failure to execute payment order

§4-1305. Liability for late or improper execution or failure to execute payment order
(1).
If a funds transfer is completed but execution of a payment order by the receiving bank in breach of section 4‑1302 results in delay in payment to the beneficiary, the bank is obliged to pay interest to either the originator or the beneficiary of the funds transfer for the period of delay caused by the improper execution. Except as provided in subsection (3), additional damages are not recoverable.
[PL 1991, c. 812, §2 (NEW).]
(2).
If execution of a payment order by a receiving bank in breach of section 4‑1302 results in noncompletion of the funds transfer, failure to use an intermediary bank designated by the originator or issuance of a payment order that does not comply with the terms of the payment order of the originator, the bank is liable to the originator for its expenses in the funds transfer and for incidental expenses and interest losses, to the extent not covered by subsection (1), resulting from the improper execution. Except as provided in subsection (3), additional damages are not recoverable.
[PL 1991, c. 812, §2 (NEW).]
(3).
In addition to the amounts payable under subsections (1) and (2), damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank.
[PL 1991, c. 812, §2 (NEW).]
(4).
If a receiving bank fails to execute a payment order it was obliged by express agreement to execute, the receiving bank is liable to the sender for its expenses in the transaction and for incidental expenses and interest losses resulting from the failure to execute. Additional damages, including consequential damages, are recoverable to the extent provided in an express written agreement of the receiving bank but are not otherwise recoverable.
[PL 1991, c. 812, §2 (NEW).]
(5).
Reasonable attorney's fees are recoverable if demand for compensation under subsection (1) or (2) is made and refused before an action is brought on the claim. If a claim is made for breach of an agreement under subsection (4) and the agreement does not provide for damages, reasonable attorney's fees are recoverable if demand for compensation under subsection (4) is made and refused before an action is brought on the claim.
[PL 1991, c. 812, §2 (NEW).]
(6).
Except as stated in this section, the liability of a receiving bank under subsections (1) and (2) may not be varied by agreement.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 4: PAYMENT › 11 §4-1401. Payment date

§4-1401. Payment date
"Payment date" of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary's bank. The payment date may be determined by instruction of the sender but can not be earlier than the day the order is received by the beneficiary's bank and, unless otherwise determined, is the day the order is received by the beneficiary's bank.   [PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).
2023 Maine Revised Statutes › TITLE 11: UNIFORM COMMERCIAL CODE › Article 4-A: FUNDS TRANSFERS › Part 4: PAYMENT › 11 §4-1402. Obligation of sender to pay receiving bank

§4-1402. Obligation of sender to pay receiving bank
(1).
This section is subject to sections 4‑1205 and 4‑1207.
[PL 1991, c. 812, §2 (NEW).]
(2).
With respect to a payment order issued to the beneficiary's bank, acceptance of the order by the bank obliges the sender to pay the bank the amount of the order but payment is not due until the payment date of the order.
[PL 1991, c. 812, §2 (NEW).]
(3).
This subsection is subject to subsection (5) and to section 4‑1303. With respect to a payment order issued to a receiving bank other than the beneficiary's bank, acceptance of the order by the receiving bank obliges the sender to pay the bank the amount of the sender's order. Payment by the sender is not due until the execution date of the sender's order. The obligation of that sender to pay its payment order is excused if the funds transfer is not completed by acceptance by the beneficiary's bank of a payment order instructing payment to the beneficiary of that sender's payment order.
[PL 1991, c. 812, §2 (NEW).]
(4).
If the sender of a payment order pays the order and was not obliged to pay all or part of the amount paid, the bank receiving payment is obliged to refund payment to the extent the sender was not obliged to pay. Except as provided in sections 4‑1204 and 4‑1304, interest is payable on the refundable amount from the date of payment.
[PL 1991, c. 812, §2 (NEW).]
(5).
If a funds transfer is not completed as stated in subsection (3) and an intermediary bank is obliged to refund payment as stated in subsection (4) but is unable to do so because not permitted by applicable law or because the bank suspends payments, a sender in the funds transfer that executed a payment order in compliance with an instruction, as stated in section 4‑1302, subsection (1), paragraph (a), to route the funds transfer through that intermediary bank is entitled to receive or retain payment from the sender of the payment order that it accepted. The first sender in the funds transfer that issued an instruction requiring routing through that intermediary bank is subrogated to the right of the bank that paid the intermediary bank to refund as stated in subsection (4).
[PL 1991, c. 812, §2 (NEW).]
(6).
The right of the sender of a payment order to be excused from the obligation to pay the order as stated in subsection (3) or to receive refund under subsection (4) may not be varied by agreement.
[PL 1991, c. 812, §2 (NEW).]
SECTION HISTORY
PL 1991, c. 812, §2 (NEW).