Title 8

NRS 104A.4102 Subject matter. Except as otherwise provided in NRS 104A.4108, this article applies to funds transfers defined in NRS 104A.4104. (Added to NRS by 1991, 430)

NRS 104A.4103 Payment order: Definitions. 1. In this article: (a) “Payment order” means an instruction of a sender to a receiving bank, transmitted orally or in a record, to pay, or to cause another bank to pay, a fixed or determinable amount of money to a beneficiary if: (1) The…

NRS 104A.4104 Funds transfer: Definitions. 1. “Funds transfer” means the series of transactions, beginning with the originator’s payment order, made for the purpose of making payment to the beneficiary of the order. The term includes any payment order issued by the originator’s b…

NRS 104A.4105 Other definitions. 1. In this Article: (a) “Authorized account” means a deposit account of a customer in a bank designated by the customer as a source of payment of payment orders issued by the customer to the bank. If a customer does not so designate an account, an…

NRS 104A.4106 Time payment order is received. 1. The time of receipt of a payment order or communication cancelling or amending a payment order is determined by the rules applicable to receipt of a notice stated in NRS 104.1202. A receiving bank may fix a cutoff time or times of …

NRS 104A.4107 Federal Reserve regulations and operating circulars. Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve banks supersede any inconsistent provision of this article to the extent of the inconsistency. (Ad…

NRS 104A.4108 Exclusion of certain consumer transactions governed by federal law; resolution of inconsistencies between federal law and state law. 1. Except as otherwise provided in subsection 2, this article does not apply to a funds transfer any part of which is governed by the…

NRS 104A.4201 Security procedure. 1. “Security procedure” means a procedure established by agreement of a customer and a receiving bank for the purpose of: (a) Verifying that a payment order or communication amending or cancelling a payment order is that of the customer; or (b) D…

NRS 104A.4202 Authorized and verified payment orders. 1. A payment order received by the receiving bank is the authorized order of the person identified as sender if the person authorized the order or is otherwise bound by it under the law of agency. 2. If a bank and its customer…

NRS 104A.4203 Unenforceability of certain verified payment orders. 1. If an accepted payment order is not, under subsection 1 of NRS 104A.4202, an authorized order of a customer identified as sender, but is effective as an order of the customer pursuant to subsection 2 of NRS 104…

NRS 104A.4204 Refund of payment and duty of customer to report with respect to unauthorized payment order. 1. If a receiving bank accepts a payment order issued in the name of its customer as sender which is not authorized and not effective as the order of the customer under NRS …

NRS 104A.4205 Erroneous payment orders. 1. If an accepted payment order was transmitted pursuant to a security procedure for the detection of error and the payment order erroneously instructed payment to a beneficiary not intended by the sender, erroneously instructed payment in …

NRS 104A.4206 Transmission of payment order through funds-transfer or other communication system. 1. If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for transmittal to the bank, the system is dee…

NRS 104A.4207 Misdescription of beneficiary. 1. Except as otherwise provided in subsection 2, if, in a payment order received by the beneficiary’s bank, the name, bank account number or other identification of the beneficiary refers to a nonexistent or unidentifiable person or ac…

NRS 104A.4208 Misdescription of intermediary bank or beneficiary’s bank. 1. If a payment order identifies an intermediary bank or the beneficiary’s bank only by an identifying number, the following rules apply: (a) The receiving bank may rely on the number as the proper identific…

NRS 104A.4209 Acceptance of payment order. 1. Except as otherwise provided in subsection 4, a receiving bank other than the beneficiary’s bank accepts a payment order when it executes the order. 2. Except as otherwise provided in subsections 3 and 4, a beneficiary’s bank accepts …

NRS 104A.4210 Rejection of payment order. 1. A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally or in a record. A notice of rejection need not use any particular words and is sufficient if it indicates that the receiving ba…

NRS 104A.4211 Cancellation and amendment of payment order. 1. A communication of the sender of a payment order cancelling or amending the order may be transmitted to the receiving bank orally or in a record. If a security procedure is in effect between the sender and the receivin…

NRS 104A.4212 Liability and duty of receiving bank regarding unaccepted payment order. If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement to the extent provided in the agreement or …

NRS 104A.4301 Execution and execution date. 1. A payment order is “executed” by the receiving bank when it issues a payment order intended to carry out the payment order received by the bank. A payment order received by the beneficiary’s bank can be accepted but cannot be execute…

NRS 104A.4302 Obligation of receiving bank in execution of payment order. 1. Except as otherwise provided in subsections 2, 3 and 4, if the receiving bank accepts a payment order pursuant to subsection 1 of NRS 104A.4209, the bank has the following obligations in executing the or…

NRS 104A.4303 Erroneous execution of payment order. 1. A receiving bank that executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the sender’s order, or issues a payment order in execution of the sender’s order and then issue…

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…

NRS 104B.12101 Short title. This Article may be cited as the Uniform Commercial Code—Controllable Electronic Records. (Added to NRS by 2023, 3169)

NRS 104B.12102 Definitions. 1. In this Article: (a) “Controllable electronic record” means a record stored in an electronic medium that can be subjected to control under NRS 104B.12105. The term does not include a controllable account, a controllable payment intangible, a deposit…

NRS 104B.12103 Relation to Article 9 and consumer laws. 1. If there is a conflict between this Article and Article 9, Article 9 governs. 2. A transaction subject to this Article is subject to: (a) Any applicable rule of law that establishes a different rule for consumers; (b) Any…

NRS 104B.12104 Rights in controllable account, controllable electronic record and controllable payment intangible. 1. This section applies to the acquisition and purchase of rights in a controllable account or controllable payment intangible, including the rights and benefits und…

NRS 104B.12105 Control of controllable electronic record. 1. A person has control of a controllable electronic record if the electronic record, a record attached to or logically associated with the electronic record or a system in which the electronic record is recorded: (a) Give…

NRS 104B.12106 Discharge of account debtor on controllable account or controllable payment intangible. 1. An account debtor on a controllable account or controllable payment intangible may discharge its obligation by paying: (a) The person having control of the controllable elect…

NRS 104B.12107 Governing law. 1. Except as provided in subsection 2, the law of a controllable electronic record’s jurisdiction governs a matter covered by this Article. 2. For a controllable electronic record that evidences a controllable account or controllable payment intangib…

NRS 104C.101 Short title. This Article may be cited as Transitional Provisions for Uniform Commercial Code Amendments (2022). (Added to NRS by 2023, 3174)

NRS 104C.102 Definitions. 1. In this Article: (a) “Article 12” means Article 12 of the Uniform Commercial Code. (b) “Article 12 property” means a controllable account, controllable electronic record or controllable payment intangible. 2. The following definitions in other Article…