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Iowa Code

art-12

Funds Transfers

554.12101Short title 554.12102Subject matter 554.12103Payment order — definitions 554.12104Funds transfer — definitions 554.12105Other definitions 554.12106Time payment order is received 554.12107Federal reserve regulations and operating circulars 554.12108Relationship to Electronic Fund Transfer Act 554.12201Security procedure 554.12202Authorized and verified payment orders 554.12203Unenforceability of certain verified payment orders 554.12204Refund of payment and duty of customer to report with respect to unauthorized payment order 554.12205Erroneous payment orders 554.12206Transmission of payment order through funds-transfer or other communication system 554.12207Misdescription of beneficiary 554.12208Misdescription of intermediary bank or beneficiary’s bank 554.12209Acceptance of payment order 554.12210Rejection of payment order 554.12211Cancellation and amendment of payment order 554.12212Liability and duty of receiving bank regarding unaccepted payment order 554.12301Execution and execution date 554.12302Obligations of receiving bank in execution of payment order 554.12303Erroneous execution of payment order 554.12304Duty of sender to report erroneously executed payment order 554.12305Liability for late or improper execution or failure to execute payment order 554.12401Payment date 554.12402Obligation of sender to pay receiving bank 554.12403Payment by sender to receiving bank 554.12404Obligation of beneficiary’s bank to pay and give notice to beneficiary 554.12405Payment by beneficiary’s bank to beneficiary 554.12406Payment by originator to beneficiary — discharge of underlying obligation 554.12501Variation by agreement and effect of funds-transfer system rule 554.12502Creditor process served on receiving bank — setoff by beneficiary’s bank 554.12503Injunction or restraining order with respect to funds transfer 554.12504Order in which items and payment orders may be charged to account — order of withdrawals from account 554.12505Preclusion of objection to debit of customer’s account 554.12506Rate of interest 554.12507Choice of law