PocketLaw | Michigan Compiled Laws | Part 4 Payment

Part 4 Payment (440.4901...440.4906)

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Section
440.4901

“Payment Date” Defined.

Section
440.4902

Payment Order Issued to Beneficiary or Receiving Bank Subject to MCL 440.4705 and 440.4707; Payment by Sender; Refund; Right of Sender Executing Payment Order to Receive or Retain Payment; Right of Sender to Be Excused From Obligation to Pay or Receive Refund Not Varied by Agreement.

Section
440.4903

Sender's Obligation Under MCL 440.4902 to Pay Receiving Bank; Payment Requirements; Final Settlement; Satisfaction of Sender's Payment Obligation.

Section
440.4904

Beneficiary Bank; Acceptance of Payment Order Subject to MCL 440.4711(5), 440.4905(4), and 440.4905(5); Payment Due Date; Refusal of Bank to Pay After Demand; Recovery of Damages; Instruction to Pay to Beneficiary's Account; Notice; Interest; Attorney Fees; Rights of Beneficiary Pursuant to Agreement or Funds-Transfer System Rule.

Section
440.4905

Beneficiary Bank; Crediting Account of Beneficiary of Payment Order; Payment of Bank Obligations Under MCL 440.4904(1); Time of Payment; Condition to Payment or Agreement; Provisional Payments to Beneficiary Under Funds-Transfer System Rule; Refund; Applicability of Subsection (5) to Certain Funds Transfer.

Section
440.4906

Originator of Funds Transfer; Conditions for Payment to Beneficiary; Satisfaction and Discharge of Obligation; Determination; Rights Varied by Agreement.