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§12A-4A-304.


§12A-4A-304.
   
   DUTY OF SENDER TO REPORT ERRONEOUSLY EXECUTED PAYMENT ORDER
   
   If the sender of a payment order that is erroneously executed as
   stated in Section 23 of this act receives notification from the
   receiving bank that the order was executed or that the sender's
   account was debited with respect to the order, the sender has a duty
   to exercise ordinary care to determine, on the basis of information
   available to the sender, that the order was erroneously executed and
   to notify the bank of the relevant facts within a reasonable time not
   exceeding ninety (90) days after the notification from the bank was
   received by the sender. If the sender fails to perform that duty, the
   bank is not obliged to pay interest on any amount refundable to the
   sender under subsection (d) of Section 27 of this act for the period
   before the bank learns of the execution error. The bank is not
   entitled to any recovery from the sender on account of a failure by
   the sender to perform the duty stated in this section.
   

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