O.C.G.A.
O.C.G.A.

11-4A-104 (2019)

Funds transfer - Definitions

✓ O.C.G.A. (archive.org 2024 item): print volumes of 2004-2024, per-volume vintage; older volumes partly replaced by 2019 Release 73 text; no 2025 or 2026 Acts
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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In this article:

(a) “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.

(b) “Intermediary bank” means a receiving bank other than the originator’s bank or the beneficiary’s bank.

(c) “Originator” means the sender of the first payment order in a funds transfer.

(d) “Originator’s bank” means (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.

History

Code 1981, § 11-4A-104, enacted by Ga. L. 1992, p. 2685, § 4.

Annotations

RESEARCH REFERENCES U.L.A. Uniform Commercial Code (U.L.A.) § 4A-104.

Notes of Decisions
Cited in 1 case, 2020–2020 · leading case: Zeal Global Servs. Private Ltd. v. Suntrust Bank, 508 F. Supp. 3d 1303 (N.D. Ga. 2020).
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Zeal Global Servs. Private Ltd. v. Suntrust Bank, 508 F. Supp. 3d 1303 (N.D. Ga. 2020). · cites it 2× “See O.C.G.A. § 11-4A-104 (explaining that a funds transfer is a series of transactions, beginning with the sender’s 1 The Court derives the factual background herein from Plaintiff’s Amended Complaint, which the Court presumes true for purposes of resolving Defendants’ Motions…”
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