Can you summarize IDST 28-4-608?

Short Summary

This part of the Idaho Statutes, specifically under the Uniform Commercial Code - Bank Deposits and Collections, governs funds transfers. It states that this part does not apply to funds transfers governed by the Electronic Fund Transfer Act, unless they are remittance transfers or electronic fund transfers as defined in the Electronic Fund Transfer Act. In the event of an inconsistency between this part and the Electronic Fund Transfer Act, the provision of the Electronic Fund Transfer Act governs. No specific penalties are mentioned in this part.

Whom does it apply to?

Entities involved in funds transfers

What does it govern?

Funds transfers

What are exemptions?

Funds transfers governed by the Electronic Fund Transfer Act, unless they are remittance transfers or electronic fund transfers as defined in the Electronic Fund Transfer Act

What are the Penalties?

No specific penalties mentioned

Jurisdiction

Idaho

Source

IDST 28-4-608 [https://reggi.cloud.regology.com/regulations/US-IDST/US-IDST_T_28_C_4_P_6_S_08]

• Banking