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

11-4A-206 (2019)

Transmission of payment order through funds-transfer or other communication system

✓ 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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(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 Code section does not apply to a funds-transfer system of the federal reserve banks.

(b) This Code section applies to cancellations and amendments of payment orders to the same extent it applies to payment orders.

History

Code 1981, § 11-4A-206, enacted by Ga.

L. 1992, p. 2685, § 4; Ga. L. 2002, p. 415, § 11.

Annotations

The 2002 amendment, effective April 18, 2002, part of an Act to revise, modernize, and correct the Code, revised capitalization in subsection (a).

RESEARCH REFERENCES

U.L.A. - Uniform Commercial Code (U.L.A.) § 4A-206.