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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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