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Title 11, Article 4-A: FUNDS TRANSFERS

Part 1: SUBJECT MATTER AND DEFINITIONS

11 §4-1101. Short title 
11 §4-1102. Subject matter 
11 §4-1103. Payment order; definitions 
11 §4-1104. Funds transfer; definitions 
11 §4-1105. Other definitions 
11 §4-1106. Time payment order received 
11 §4-1107. Federal reserve regulations and operating circulars 
11 §4-1108. Exclusion of consumer transactions governed by federal law (REPEALED) 
11 §4-1109. Relationship to federal Electronic Fund Transfer Act 

Part 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER

11 §4-1201. Security procedure 
11 §4-1202. Authorized and verified payment orders 
11 §4-1203. Unenforceability of certain verified payment orders 
11 §4-1204. Refund of payment and duty of customer to report with respect to unauthorized payment order 
11 §4-1205. Erroneous payment orders 
11 §4-1206. Transmission of payment order through funds transfer or other communication system 
11 §4-1207. Misdescription of beneficiary 
11 §4-1208. Misdescription of intermediary bank or beneficiary's bank 
11 §4-1209. Acceptance of payment order 
11 §4-1210. Rejection of payment order 
11 §4-1211. Cancellation and amendment of payment order 
11 §4-1212. Liability and duty of receiving bank regarding unaccepted payment order 

Part 3: EXECUTION OF SENDER'S PAYMENT ORDER BY RECEIVING BANK

11 §4-1301. Execution and execution date 
11 §4-1302. Obligations of receiving bank in execution of payment order 
11 §4-1303. Erroneous execution of payment order 
11 §4-1304. Duty of sender to report erroneously executed payment order 
11 §4-1305. Liability for late or improper execution or failure to execute payment order 

Part 4: PAYMENT

11 §4-1401. Payment date 
11 §4-1402. Obligation of sender to pay receiving bank 
11 §4-1403. Payment by sender to receiving bank 
11 §4-1404. Obligation of beneficiary's bank to pay and give notice to beneficiary 
11 §4-1405. Payment by beneficiary's bank to beneficiary 
11 §4-1406. Payment by originator to beneficiary; discharge of underlying obligation 

Part 5: MISCELLANEOUS PROVISIONS

11 §4-1501. Variation by agreement and effect of funds transfer system rule 
11 §4-1502. Creditor process served on receiving bank; setoff by beneficiary's bank 
11 §4-1503. Injunction or restraining order with respect to funds transfer 
11 §4-1504. Order in which items and payment orders may be charged to account; order of withdrawals from account 
11 §4-1505. Preclusion of objection to debit of customer's account 
11 §4-1506. Rate of interest 
11 §4-1507. Choice of law 
The Revisor's Office cannot provide legal advice or interpretation of Maine law to the public.
If you need legal advice, please consult a qualified attorney.
Office of the Revisor of Statutes · 7 State House Station · State House Room 108 · Augusta, Maine 04333-0007
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