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Can you summarize MNST 336.4A-108?
UNIFORM COMMERCIAL CODE > RELATIONSHIP TO ELECTRONIC FUND TRANSFER ACT.
Short Summary
This article pertains to funds transfers and their regulation. It specifies that the article does not apply to funds transfers governed by the Electronic Fund Transfer Act, except for remittance transfers that are also electronic fund transfers. In the event of any inconsistency between this article and the Electronic Fund Transfer Act, the provisions of the Electronic Fund Transfer Act govern. The article does not mention any specific penalties for non-compliance or violation. Overall, this article provides guidelines and provisions for funds transfers, with certain exceptions and deference to the Electronic Fund Transfer Act.
Whom does it apply to?
Entities involved in funds transfers
What does it govern?
Funds transfers
What are exemptions?
This article does not apply to a funds transfer governed by the Electronic Fund Transfer Act, unless it is a remittance transfer that is also an electronic fund transfer.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Minnesota