§490:4A-212  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 in this article, but does not otherwise have any duty to accept a
payment order or, before acceptance, to take any action, or refrain from taking
action, with respect to the order except as provided in this article or by
express agreement.  Liability based on acceptance arises only when acceptance
occurs as stated in section 490:4A-209, and liability is limited to that
provided in this article.  A receiving bank is not the agent of the sender or
beneficiary of the payment order it accepts, or of any other party to the funds
transfer, and the bank owes no duty to any party to the funds transfer except
as provided in this article or by express agreement. [L 1991, c 41, pt of §1]