Tex. Bus. & Com. Code Section 4A.206
Transmission of Payment Order Through Funds Transfer or Other Communication System


(a)

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 does not apply to a funds transfer system of the Federal Reserve Banks.

(b)

This section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.
Added by Acts 1993, 73rd Leg., ch. 570, Sec. 7, eff. Sept. 1, 1993.

Source: Section 4A.206 — Transmission of Payment Order Through Funds Transfer or Other Communication System, https://statutes.­capitol.­texas.­gov/Docs/BC/htm/BC.­4A.­htm#4A.­206 (accessed Mar. 23, 2024).

4A.101
Short Title
4A.102
Subject Matter
4A.103
Payment Order--definitions
4A.104
Funds Transfer--definitions
4A.105
Other Definitions
4A.106
Time Payment Order Is Received
4A.107
Federal Reserve Regulations and Operating Circulars
4A.108
Relationship to Electronic Fund Transfer Act
4A.201
Security Procedure
4A.202
Authorized and Verified Payment Orders
4A.203
Unenforceability of Certain Verified Payment Orders
4A.204
Refund of Payment and Duty of Customer to Report with Respect to Unauthorized Payment Order
4A.205
Erroneous Payment Orders
4A.206
Transmission of Payment Order Through Funds Transfer or Other Communication System
4A.207
Misdescription of Beneficiary
4A.208
Misdescription of Intermediary Bank or Beneficiary’s Bank
4A.209
Acceptance of Payment Order
4A.210
Rejection of Payment Order
4A.211
Cancellation and Amendment of Payment Order
4A.212
Liability and Duty of Receiving Bank Regarding Unaccepted Payment Order
4A.301
Execution and Execution Date
4A.302
Obligations of Receiving Bank in Execution of Payment Order
4A.303
Erroneous Execution of Payment Order
4A.304
Duty of Sender to Report Erroneously Executed Payment Order
4A.305
Liability for Late or Improper Execution or Failure to Execute Payment Order
4A.401
Payment Date
4A.402
Obligation of Sender to Pay Receiving Bank
4A.403
Payment by Sender to Receiving Bank
4A.404
Obligation of Beneficiary’s Bank to Pay and Give Notice to Beneficiary
4A.405
Payment by Beneficiary’s Bank to Beneficiary
4A.406
Payment by Originator to Beneficiary
4A.501
Variation by Agreement and Effect of Funds Transfer System Rule
4A.502
Creditor Process Served on Receiving Bank
4A.503
Injunction or Restraining Order with Respect to Funds Transfer
4A.504
Order in Which Items and Payment Orders May Be Charged to Account
4A.505
Preclusion of Objection to Debit of Customer’s Account
4A.506
Rate of Interest
4A.507
Choice of Law

Accessed:
Mar. 23, 2024

§ 4A.206’s source at texas​.gov