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5 chapters · 38 sections in this title.
Va. Code Ann. § 8.4A-501 Variation by agreement and effect of funds-transfer system rule
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(a) Except as otherwise provided in this title, the rights and obligations of a party to funds transfer may be varied by agreement of the affected party. (b) "Funds-transfer system rule" means a rule of an association of banks (i) governing transmission of payment orders by means…
Va. Code Ann. § 8.4A-502 Creditor process served on receiving bank; setoff by beneficiary's bank
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(a) As used in this section, "creditor process" means 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. (b) This subsection applies to creditor process with respect t…
Va. Code Ann. § 8.4A-503 Injunction or restraining order with respect to funds transfer
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For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a funds transfer, (ii) an originator's bank from executing the payment order of the originator, or (iii) the beneficiary's bank from releasing funds …
Va. Code Ann. § 8.4A-504 Order in which items and payment orders may be charged to account; order of withdrawals from account
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(a) 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 account, the bank may charge the sender's account with respect to the various orders and items in any sequence. (b) In d…