This legal document, part of the Nevada Revised Statutes under the Uniform Commercial CodeAdditional Articles, governs the liability of receiving banks and originators in funds transfers. If a receiving bank executes a payment order in breach of NRS 104A.4302, resulting in delay in payment to the beneficiary, the bank is obliged to pay interest for the period of delay caused by the improper execution. If the execution of a payment order by a receiving bank results in noncompletion of the funds transfer, failure to use an intermediary bank designated by the originator, or issuance of a payment order that does not comply with the terms of the originator’s payment order, the bank is liable to the originator for its expenses in the funds transfer, incidental expenses, and interest losses.

Payment date of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiarys bank. The payment date may be determined by instruction of the sender but cannot be earlier than the day the order is received by the beneficiarys bank and, unless otherwise determined, is the day the order is received by the beneficiarys bank. (Added to NRS by 1991, 442)

This legal document, governed by the Nevada Revised Statutes, specifically under the Uniform Commercial CodeAdditional Articles, addresses the obligation of the sender to pay the receiving bank in the context of payment orders. When a payment order is issued to the beneficiary’s bank, acceptance of the order by the bank creates an obligation for the sender to pay the bank the specified amount, with payment becoming due on the payment date.

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.

This legal document, governed by the Nevada Revised Statutes, specifically addresses the obligation of a beneficiary’s bank to pay and provide notice to the beneficiary. According to the document, if a beneficiary’s bank accepts a payment order, it is obligated to pay the amount of the order to the beneficiary on the payment date. However, if acceptance occurs after the close of the bank’s funds-transfer business day, payment is due on the next funds-transfer business day.

This legal document, governed by the Nevada Revised Statutes, specifically under the Uniform Commercial CodeAdditional Articles, addresses the payment by a beneficiary’s bank to the beneficiary. It outlines the conditions under which the beneficiary’s bank is obligated to make payment to the beneficiary. Payment occurs when the beneficiary is notified of the right to withdraw the credit, when the bank applies the credit to a debt of the beneficiary, or when funds are otherwise made available to the beneficiary by the bank.

This legal document, part of the Nevada Revised Statutes, governs the payment by an originator to a beneficiary in a funds transfer and the discharge of the underlying obligation. According to the document, the originator is required to pay the beneficiary at the time a payment order is accepted by the beneficiary’s bank, in an amount equal to the order accepted. However, there are certain exceptions mentioned in subsections 5 of NRS 104A.

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.

This section of the Nevada Revised Statutes, under the Uniform Commercial CodeAdditional Articles, governs the process served on receiving banks and the setoff by beneficiary’s banks. It defines ‘creditor’s process’ as levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant with respect to an account. If creditor’s process is served on the receiving bank and the bank accepts the payment order, the balance in the authorized account is deemed to be reduced by the amount of the payment order, unless the bank had a reasonable opportunity to act on the process before accepting the payment order.

1.For proper cause and in compliance with applicable law, a court may restrain: (a)A person from issuing a payment order to initiate a funds transfer; (b)An originators bank from executing the payment order of the originator; or (c)The beneficiarys bank from releasing funds to the beneficiary or the beneficiary from withdrawing the funds. 2.A court may not otherwise restrain a person from issuing a payment order, paying or receiving payment of a payment order, or otherwise acting with respect to a funds transfer.