Okla. Stat. tit. 12A, § 12A-4A-303: Erroneous execution of payment order

ERRONEOUS EXECUTION OF PAYMENT ORDER

(a) A receiving bank that (i) executes the payment order of the

sender by issuing a payment order in an amount greater than the

amount of the sender's order, or (ii) issues a payment order in

execution of the sender's order and then issues a duplicate order,

is entitled to payment of the amount of the sender's order under

subsection (e) of Section 27 of this act if that subsection is

otherwise satisfied. The bank is entitled to recover from the

beneficiary of the erroneous order the excess payment received to

the extent allowed by the law governing mistake and restitution.

(b) A receiving bank that executes the payment order of the

sender by issuing a payment order in an amount less than the amount

of the sender's order is entitled to payment of the amount of the

sender's order under subsection (c) of Section 27 of this act if (i)

that subsection is otherwise satisfied and (ii) the bank corrects

its mistake by issuing an additional payment order for the benefit

of the beneficiary of the sender's order. If the error is not

corrected, the issuer of the erroneous order is entitled to receive

or retain payment from the sender of the order it accepted only to

the extent of the amount of the erroneous order. This subsection

does not apply if the receiving bank executes the sender's payment

order by issuing a payment order in an amount less than the amount

of the sender's order for the purpose of obtaining payment of its

charges for services and expenses pursuant to instruction of the

sender.

(c) If a receiving bank executes the payment order of the

sender by issuing a payment order to a beneficiary different from

the beneficiary of the sender's order and the funds transfer is

completed on the basis of that error, the sender of the payment

order that was erroneously executed and all previous senders in the

funds transfer are not obliged to pay the payment orders they

issued. The issuer of the erroneous order is entitled to recover

from the beneficiary of the order the payment received to the extent

allowed by the law governing mistake and restitution.