70A-4a-505 - Preclusion of objection to debit of customer's account. - Utah Statutes

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70A-4a-505. Preclusion of objection to debit of customer's account.
If a receiving bank has received payment from its customer with respect to a paymentorder issued in the name of the customer as sender and accepted by the bank, and the customerreceived notification reasonably identifying the order, the customer is precluded from assertingthat the bank is not entitled to retain the payment unless the customer notifies the bank of thecustomer's objection to the payment within one year after the notification was received by thecustomer.

Enacted by Chapter 294, 1990 General Session

State Codes and Statutes

Statutes > Utah > Title-70a > Chapter-04a > 70a-4a-505

70A-4a-505. Preclusion of objection to debit of customer's account.
If a receiving bank has received payment from its customer with respect to a paymentorder issued in the name of the customer as sender and accepted by the bank, and the customerreceived notification reasonably identifying the order, the customer is precluded from assertingthat the bank is not entitled to retain the payment unless the customer notifies the bank of thecustomer's objection to the payment within one year after the notification was received by thecustomer.

Enacted by Chapter 294, 1990 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-70a > Chapter-04a > 70a-4a-505

70A-4a-505. Preclusion of objection to debit of customer's account.
If a receiving bank has received payment from its customer with respect to a paymentorder issued in the name of the customer as sender and accepted by the bank, and the customerreceived notification reasonably identifying the order, the customer is precluded from assertingthat the bank is not entitled to retain the payment unless the customer notifies the bank of thecustomer's objection to the payment within one year after the notification was received by thecustomer.

Enacted by Chapter 294, 1990 General Session