Title 8

NRS 104A.4304 Duty of sender to report erroneously executed payment order. If the sender of a payment order that is erroneously executed as stated in NRS 104A.4303 receives notification from the receiving bank that the order was executed or that the sender’s account was debited w…

NRS 104A.4305 Liability for late or improper execution or failure to execute payment order. 1. If a funds transfer is completed but execution of a payment order by the receiving bank in breach of NRS 104A.4302 results in delay in payment to the beneficiary, the bank is obliged to…

NRS 104A.4401 Payment date. “Payment date” of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary’s bank. The payment date may be determined by instruction of the sender but cannot be earlier than the day the order is re…

NRS 104A.4402 Obligation of sender to pay receiving bank. 1. This section is subject to NRS 104A.4205 and 104A.4207. 2. With respect to a payment order issued to the beneficiary’s bank, acceptance of the order by the bank obliges the sender to pay the bank the amount of the order…

NRS 104A.4403 Payment by sender to receiving bank. 1. Payment of the sender’s obligation under NRS 104A.4402 to pay the receiving bank occurs as follows: (a) If the sender is a bank, payment occurs when the receiving bank receives final settlement of the obligation through a Fede…

NRS 104A.4404 Obligation of beneficiary’s bank to pay and give notice to beneficiary. 1. Except as otherwise provided in subsection 5 of NRS 104A.4211 and subsections 4 and 5 of NRS 104A.4405, if a beneficiary’s bank accepts a payment order, the bank is obliged to pay the amount …

NRS 104A.4405 Payment by beneficiary’s bank to beneficiary. 1. If the beneficiary’s bank credits an account of the beneficiary of a payment order, payment of the bank’s obligation under subsection 1 of NRS 104A.4404 occurs when and to the extent the beneficiary is notified of the…

NRS 104A.4406 Payment by originator to beneficiary; discharge of underlying obligation. 1. Except as otherwise provided in subsection 5 of NRS 104A.4211 and subsections 4 and 5 of NRS 104A.4405, the originator of a funds transfer pays the beneficiary of the originator’s payment o…

NRS 104A.4501 Variation by agreement and effect of funds-transfer system rule. 1. Except as otherwise provided in this article, the rights and obligations of a party to a funds transfer may be varied by agreement of the affected party. 2. “Funds-transfer system rule” means a rule…

NRS 104A.4502 Creditor’s process served on receiving bank; setoff by beneficiary’s bank. 1. As used in this section, “creditor’s process” means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or on behalf of a creditor or other claimant …

NRS 104A.4503 Injunction or restraining order with respect to funds transfer. 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 originator’s bank from executing the payme…

NRS 104A.4504 Order in which items and payment orders may be charged to account; order of withdrawals from account. 1. If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from the sender’s accou…

NRS 104A.4505 Preclusion of objection to debit of customer’s account. If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted by the bank, and the customer received notification reasonabl…

NRS 104A.4506 Rate of interest. 1. If, under this article, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may be determined: (a) By agreement of the sender and receiving bank; or (b) By a funds-transfer system ru…

NRS 104A.4507 Choice of law. 1. The following rules govern choice of law unless the affected parties otherwise agree or subsection 3 applies: (a) The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in…