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Can you summarize NVRS 104A.4403?
Uniform Commercial CodeAdditional Articles > Payment by sender to receiving bank.
Short Summary
This legal document governs the payment of the sender’s obligation to the receiving bank under NRS 104A.4402. It outlines the various scenarios in which payment occurs, such as when the receiving bank receives final settlement through a Federal Reserve bank or funds-transfer system, or when the receiving bank debits an account of the sender. The document also addresses payment obligations in the context of funds-transfer systems and agreements between banks. In cases not covered by the specified subsections, the time of payment is determined by applicable principles of law. The document was added to the Nevada Revised Statutes in 1991.
Whom does it apply to?
Senders and receiving banks involved in payment transactions
What does it govern?
Payment of the sender's obligation under NRS 104A.4402 to pay the receiving bank
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada