§12A-4-407.

§12A-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:
   
   (1) Of any holder in due course on the item against the drawer or
   maker;
   
   (2) Of the payee or any other holder of the item against the drawer or
   maker either on the item or under 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 of which the item arose.