{"data":{"id":"us-ky/krs-355.4a-304","jurisdiction":"us-ky","citation":"KRS 355.4A-304","heading":"Duty of sender to report erroneously executed payment order.","body":"If the sender of a payment order that is erroneously executed as stated in KRS 355.4A -\n303 receives notification from the receiving bank that the order was executed or that the\nsender's account was debited with respect to the order, the sender has a duty to  exercise\nordinary care to determine, on the basis of information available to the sender, that the\norder was erroneously executed and to notify the bank of the relevant facts within a\nreasonable time not exceeding ninety (90) days after the notification f rom the bank was\nreceived by the sender. If the sender fails to perform that duty, the bank is not obliged to\npay interest on any amount refundable to the sender under KRS 355.4A -402(4) for the\nperiod before the bank learns of the execution error. The bank  is not entitled to any\nrecovery from the sender on account of a failure by the sender to perform the duty stated\nin this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=33578","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:45Z","sha256":"09cb123998d352926db0b085fd23117c735ab74bcde0c55a9541176d73f97bb7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.4a-303","next":"us-ky/krs-355.4a-305"},"notice":"GroundRules: Original legal text. Not legal advice."}