§490:4A-304  Duty of sender to report
erroneously executed payment order.  If the sender of a payment order that
is erroneously executed as stated in section 490:4A-303 receives notification
from the receiving bank that the order was executed or that the sender's
account was debited with respect to the order, the sender has a duty to
exercise ordinary care to determine, on the basis of information available to
the sender, that the order was erroneously executed and to notify the bank of
the relevant facts within a reasonable time not exceeding ninety days after the
notification from the bank was received by the sender.  If the sender fails to
perform that duty, the bank is not obliged to pay interest on any amount
refundable to the sender under section 490:4A-402(d) for the period before the
bank learns of the execution error.  The bank is not entitled to any recovery
from the sender on account of a failure by the sender to perform the duty
stated in this section. [L 1991, c 41, pt of §1]