Individuals & Families
Small Businesses
Nonprofits
Employers
Employee Benefits Brokers
PEOs
Credit Unions
Membership Groups
Legal Information
Sign In
/
U.S. State Codes
/
Michigan
/
Chapter 440 - Uniform Comme...
/
Act 174 of 1962 Uniform Com...
/
Article-1 4 - a Funds Trans...
/
174-1962-4A-4 Part 4 Payment (440.4901...440.4906)
174-1962-4A-4 Part 4 Payment (440.4901...440.4906)
Section 440.4901 “Payment Date” Defined.
Section 440.4902 Payment Order Issued to Beneficiary or Receiving Bank Subject to Mcl 440.4705 and 440.4707; Payment by Sender; Refund; Right of Sender Executing Payment Order to Receive or Retain Payment; Right of Sender to Be Excused From Obligation to Pay or Receive Refund Not Varied by Agreement.
Section 440.4903 Sender's Obligation Under Mcl 440.4902 to Pay Receiving Bank; Payment Requirements; Final Settlement; Satisfaction of Sender's Payment Obligation.
Section 440.4904 Beneficiary Bank; Acceptance of Payment Order Subject to Mcl 440.4711(5), 440.4905(4), and 440.4905(5); Payment Due Date; Refusal of Bank to Pay After Demand; Recovery of Damages; Instruction to Pay to Beneficiary's Account; Notice; Interest; Attorney Fees; Rights of Beneficiary Pursuant to Agreement or Funds-Transfer System Rule.
Section 440.4905 Beneficiary Bank; Crediting Account of Beneficiary of Payment Order; Payment of Bank Obligations Under Mcl 440.4904(1); Time of Payment; Condition to Payment or Agreement; Provisional Payments to Beneficiary Under Funds-Transfer System Rule; Refund; Applicability of Subsection (5) to Certain Funds Transfer.
Section 440.4906 Originator of Funds Transfer; Conditions for Payment to Beneficiary; Satisfaction and Discharge of Obligation; Determination; Rights Varied by Agreement.