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Can you summarize NVRS 104A.4501?
Uniform Commercial CodeAdditional Articles > Variation by agreement and effect of funds-transfer system rule.
Short Summary
This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeAdditional Articles, governs the rights and obligations of parties involved in a funds transfer. It allows for the variation of these rights and obligations through agreement. The document defines ‘funds-transfer system rule’ as a rule of an association of banks that governs the transmission of payment orders through a funds-transfer system. It states that such rules may be effective even if they conflict with this article and indirectly affect a party who did not consent to the rule. The document also specifies that funds-transfer system rules may govern the rights and obligations of parties other than participating banks. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Parties involved in a funds transfer, including banks and other participants in a funds-transfer system
What does it govern?
Rights and obligations of a party to a funds transfer, funds-transfer system rules
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nevada