State Codes and Statutes
Statutes > Rhode-island > Title-6a > Chapter-6a-4-1 > 6a-4-1-212SECTION 6A-4.1-212
§ 6A-4.1-212 Liability and duty ofreceiving bank regarding unaccepted payment order. – If a receiving bank fails to accept a payment order that it is obliged byexpress agreement to accept, the bank is liable for breach of the agreement tothe extent provided in the agreement or in this chapter, but does not otherwisehave any duty to accept a payment order or, before acceptance, to take anyaction, or refrain from taking action, with respect to the order except asprovided in this chapter or by express agreement. Liability based on acceptancearises only when acceptance occurs as stated in § 6A-4.1-209, andliability is limited to that provided in this chapter. A receiving bank is notthe agent of the sender or beneficiary of the payment order it accepts, or ofany other party to the funds transfer, and the bank owes no duty to any partyto the funds transfer except as provided in this chapter or by expressagreement.
