§12A-4A-211.

§12A-4A-211.
   
   CANCELLATION AND AMENDMENT OF PAYMENT ORDER
   
   (a) A communication of the sender of a payment order canceling or
   amending the order may be transmitted to the receiving bank orally,
   electronically, or in writing. If a security procedure is in effect
   between the sender and the receiving bank, the communication is not
   effective to cancel or amend the order unless the communication is
   verified pursuant to the security procedure or the bank agrees to the
   cancellation or amendment.
   
   (b) Subject to subsection (a) of this section, a communication by the
   sender canceling or amending a payment order is effective to cancel or
   amend the order if notice of the communication is received at a time
   and in a manner affording the receiving bank a reasonable opportunity
   to act on the communication before the bank accepts the payment order.
   
   (c) After a payment order has been accepted, cancellation or amendment
   of the order is not effective unless the receiving bank agrees or a
   funds-transfer system rule allows cancellation or amendment without
   agreement of the bank.
   
   (1) With respect to a payment order accepted by a receiving bank other
   than the beneficiary's bank, cancellation or amendment is not
   effective unless a conforming cancellation or amendment of the payment
   order issued by the receiving bank is also made.
   
   (2) With respect to a payment order accepted by the beneficiary's
   bank, cancellation or amendment is not effective unless the order was
   issued in execution of an unauthorized payment order, or because of a
   mistake by a sender in the funds transfer which resulted in the
   issuance of a payment order (i) that is a duplicate of a payment order
   previously issued by the sender, (ii) that orders payment to a
   beneficiary not entitled to receive payment from the originator, or
   (iii) that orders payment in an amount greater than the amount the
   beneficiary was entitled to receive from the originator. If the
   payment order is canceled or amended, the beneficiary's bank is
   entitled to recover from the beneficiary any amount paid to the
   beneficiary to the extent allowed by the law governing mistake and
   restitution.
   
   (d) An unaccepted payment order is canceled by operation of law at the
   close of the fifth funds-transfer business day of the receiving bank
   after the execution date or payment date of the order.
   
   (e) A canceled payment order cannot be accepted. If an accepted
   payment order is canceled, the acceptance is nullified and no person
   has any right or obligation based on the acceptance. Amendment of a
   payment order is deemed to be cancellation of the original order at
   the time of amendment and issue of a new payment order in the amended
   form at the same time.
   
   (f) Unless otherwise provided in an agreement of the parties or in a
   funds-transfer system rule, if the receiving bank, after accepting a
   payment order, agrees to cancellation or amendment of the order by the
   sender or is bound by a funds-transfer system rule allowing
   cancellation or amendment without the bank's agreement, the sender,
   whether or not cancellation or amendment is effective, is liable to
   the bank for any loss and expenses, including reasonable attorney's
   fees, incurred by the bank as a result of the cancellation or
   amendment or attempted cancellation or amendment.
   
   (g) A payment order is not revoked by the death or legal incapacity of
   the sender unless the receiving bank knows of the death or of an
   adjudication of incapacity by a court of competent jurisdiction and
   has reasonable opportunity to act before acceptance of the order.
   
   (h) A funds-transfer system rule is not effective to the extent it
   conflicts with paragraph (2) of subsection (c) of this section.